ENROLLED
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CODING: Words in struck through type are deletions from existing law; words underscored
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ACT No. 1044
Regular Session, 2010
HOUSE BILL NO. 1471 (Substitute for House Bill No. 1117 by Representative Greene)
BY REPRESENTATIVE GREENE
AN ACT1
To enact R.S. 47:2323(D), relative to ad valorem taxation; to authorize the consideration of2
certain factors when considering income approach for valuation of certain3
unoccupied residential immovable property; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 47:2323(D) is hereby enacted to read as follows: 6
ยง2323. Criteria for determining fair market value; real and personal property;7
unoccupied residential immovable property 8
* * *9
D. When performing a valuation of unoccupied residential immovable10
property held for sale by a juridical person prior to the initial occupancy of such11
property, the assessor may when considering the income approach to value consider12
factors such as the estimated sales price of the unoccupied immovable property, the13
estimated holding period needed to sell the property, expenses, including expenses14
incurred during the holding period, and the capitalization rate which includes the15
economic risks associated with the holding period. For purposes of this Section, the16
initial occupancy shall mean the first occupancy of the property by a natural person,17 ENROLLEDHB NO. 1471
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as well as occupancy by a natural person after substantial modification has been1
made to the property.2
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: