WHAT IS THE RELATIONSHIP BETWEEN MARKET VALUE AND ASSESSED VALUE FOR PROPERTY IN LOUISIANA?
In Louisiana the classification of property subject to Ad Valorem taxation and their related percentage of fair market value applicable to each classification to determine assessed value is as follows:
| Classifications | Percentages |
| 1. Land | 10% |
| 2. Improvements for Residential (including apartments) | 10% |
| 3. Improvements for Commercial | 15% |
| 4. Business Movable Property (Personal) | 15% |
| 5. Public Service (excluding land) | 25% |
Bona fide agricultural, horticultural, marsh and timber lands as defined by Revenue Statues shall be assessed for tax purposes at 10% of use value rather than market value. These values are set by Louisiana Tax Commission.
