Do changes in property values impact the property tax rate?

Remember, taxing authorities - not the Assessor - set the rate at which property is taxed; the Assessor estimates the value of the property. If your property's value increases and the tax rate remains the same, you will most likely pay more in property taxes because the calculation of your taxes is based on the estimated fair market value of the property. The Louisiana Constitution requires commercial and industrial buildings to be assessed at 15 percent of their fair market value.

Commercial Closings

Involving a Business