Why are Reappraisals Necessary?
Reappraisal eliminates inequities that are created over time by changes in the real estate market, ensuring fairness and equity for all property owners.
Over time, a property’s fair market value can increase or decrease. If the Assessor’s record of a property’s fair market value does not change with the market, some people could pay too much in property taxes, while others could pay too little.
Reappraisals keep our property tax system fair. It’s that simple.
This is why the State of Louisiana requires all Assessors to conduct reappraisals every four years. Reappraisals allow an Assessor to adjust property values so that every property in their parish is fair and equitable.
Between reappraisal cycles, the Assessor’s staff:
• Visually inspects all property in West Feliciana parish so that each assessment reflects the property’s actual characteristics, such as: square footage, story height, exterior wall type, garage, carport and detached buildings.
• Verifies all property transfers as they occur in the market place. Appraisers verify each sale in order to ensure it is an arm’s-length transaction. These verified sales are recorded in a sales file to compare to properties of similar size, age, location and description to help establish fair and equitable property values.
State law protects property owners during reappraisal years:
State law also protects property owners from paying more than their fair share of property tax because a reappraisal has occurred. It provides for adjusting the tax rate to a level that would bring in the same amount of revenue as before reappraisal, excluding new construction. This prevents local governments from experiencing a financial “windfall” in reappraisal years at the expense of property owners.