What is the assessed value percentage for commercial property land in Louisiana?

In Louisiana, the assessed value percentage for commercial property land is set at 15%. This means that when calculating property taxes, the state's assessment for commercial land is based on 15% of its fair market value. This rate is significant for property owners and investors in understanding their potential tax liabilities. It also reflects the policy decisions made at the state level regarding the taxation of commercial properties, aiming to balance the need for revenue with encouraging economic activity.

Additionally, it’s worth noting that different property types have varying assessed value percentages, which is crucial when considering overall property taxation in Louisiana. Understanding the correct assessed value for commercial properties helps in financial planning, investment analysis, and compliance with state taxation laws.