How is new construction or property that has been reconstructed property appraised?
By Louisiana law, the Assessor's Office must appraise property to reflect its condition as of January 1 of each reappraisal year (every 4 years). However, the Assessor's Office must revalue the property when the construction of an improvement, addition, or demolition occurs prior to January 1 of any tax year.
To revalue a modified property, a staff of professionally trained appraisers:
- Reviews and verifies permits relating to the property.
- Compares physical structure to permit.
- Carefully measures outside perimeter of the structure.
- Sketches footprint of the structure.
- Sections out porches, patios, garages, and unfinished areas because they are computed at a different rate from heated areas.
- Makes special notes of exterior wall material, fireplaces, roof structure, story height, bedrooms, bathrooms and any of the additional features.
- Reviews recent comparable sales data in neighborhoods and surrounding areas.
- Values property and classifies it to ensure that the proper assessment is applied.