Real Estate

REASSESSMENT

The Assessor’s office is mandated by the Louisiana Constitution to reassess all taxable real property at least once every four (4) years. The most recent reassessment was 2016. The next reassessment will be in 2020.

In a reassessment year, the Assessor’s office determines property value by MASS APPRAISAL. Properties are not individually appraised. Sales are categorized into groups of comparable properties based on value factors such as location, age, and size.

The first step of the reassessment process is the gathering of the applicable data (sales, costs, and lease data) for the time period specified by the Louisiana Tax Commission. For the 2016 reassessment, the time period was July, 2014 through June, 2015. Sales information was gathered from public records, multiple listing services, and other sources. Only arm’s length transactions are considered.

Data is analyzed and a price per square foot is extracted from the sales data and applied to the group in mass. Special circumstances, such as fire damage, can warrant an additional adjustment. Written documentation, such as an independent appraisal report, insurance claim document, or other document must be provided to support an adjustment.

Louisiana Revised Statute 47:2331 (LINK TO STATUTE??) sets forth the reassessment process. The Louisiana Tax Commission provides additional rules and regulations as well as providing oversight of reassessment statewide.

HOMESTEAD and OTHER EXEMPTIONS

Homestead Exemption: As a provision of the Louisiana State Constitution, every homeowner in Plaquemines Parish is able to claim an exemption from the first $75,000 of property value for their primary residence. Because you can have only one primary residence, you may have only one Homestead Exemption, even if you own multiple homes.

As of August 1, 2016, claiming more than one Homestead Exemption is a crime punishable by a $500 fine and six months in jail.

If you wish to claim a Homestead Exemption, please contact our office for an application and instruction sheet showing the required documentation. (LINK TO our CONTACT info???)

Special Assessment Level: The Special Assessment Level freezes the assessed VALUE of your property. Please note… the taxes due annually will still fluctuate due to changes in tax (millage) rates.

The available Special Assessment Level options, qualifications, and requirements are outlined in the following table:

Special Assessment Level

Qualifications

Documents Required

Age 65

Homestead Exemption

Annual Income of $72,134 or less (for 2017 - amount changes annually)

1040 adjusted gross income of prior year’s tax return

Disability

Homestead Exemption

Annual Income of $72,134 or less (for 2017 – amount changes annually)

Federal or State disability of 100%.

1040 adjusted gross income of prior year’s tax return

Letter from a federal or state agency confirming the total disability

Service Connected Disability

Homestead Exemption

Annual Income of $72,134 or less (for 2017 – amount changes annually)

Service connected disability rating of 50% or more

1040 adjusted gross income of prior year’s tax return

Letter of determination or notice of award from Veterans Administration

*If you are a 100% disabled veteran, you quality for a homestead exemption of up to $150,000 of the value of home.

Surviving Spouse of a member of the Armed formed, state police, law enforcement officer or fire protection officer killed or missing in action or prisoner of war

Homestead Exemption

 

Letter from spouses former employer

*This exempts 100% of current value of home and remains in place as long as you do not remarry.


*The Special Assessment Level freeze may be retained as long as you remain qualified. Audits may be performed by the Assessor’s office periodically requiring proof of combined adjusted gross income..

USE VALUE

Use value is the taxable value that is set by the state specifically for agricultural land devoted to the production for sale, in reasonable commercial quantities, of plants and animals, or their products, OR horticultural land devoted to the production for sale, in reasonable commercial quantities, of fruits, vegetables, flowers, or ornamental plants.

In order to qualify for Use Value, the property must …

• Meet the definition for bonafide agricultural land or bona fide horticultural land (LA RS 47:2302) (LINK TO STATUTE???)
• Be at least three acres, or
• Have produced an average annual gross income of at least $2,000 in one or more of the four years preceding the application for use value.

If claiming homestead exemption along with use value, one acre will be reserved for the homesite and will not qualify for use value.

If you feel you meet the above criteria please contact the assessor’s office for a use value application form. (link to contact???)