Louisiana residential property is assessed at what percentage of fair market value?
Correct Answer
B) 10%
Louisiana assesses residential property at 10% of fair market value — one of the lowest assessment ratios in the nation. This keeps effective property tax rates relatively low.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
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