How is Personal Property Appraised?
Personal Property is reappraised and reassessed every year.
Our office mails out a self-reporting Personal Property Report Form, as approved and adopted by the Louisiana Tax Commission, each year on our before February 15th, to all individuals, partnerships, corporations, associations, etc. engaged in business and owning personal property. Each property owner receiving a form shall fill out the form and return it to the assessor by the first day of April or forty-five (45) days after receipt--whichever is later. Upon written request, the assessor may grant an extension of time in which to file, not to exceed thirty (30) days.
Failure to report may result in a Forced Assessment. A Forced Assessment is an assessment resulting from an estimation of value. That value may be estimated based upon a field inspection of your property or it may be estimated based upon the average value of personal property for businesses similar to yours.
Personal Property or Movable Property -- includes all things other than real estate which have pecuniary value. Personal Property shall include, but not necessarily be limited to: inventory, furniture, fixtures, machinery and equipment, and all process and manufacturing machinery and equipment.
If a business is closed prior to January 1st, it can be removed from the tax roll.