LAC 61:V.118 — Data Collection by the Assessor

A. The assessor may use self-reporting forms, as approved and adopted by the Louisiana Tax Commission or its successors, to gather data necessary to determine fair market value. A self-reporting form shall be returned to the assessor by the first day of April, or 45 days after receipt, whichever is later.
B. By failing to file a report when it is due, a property owner loses the right to appeal the appraisal by the assessor (R.S. 47:2329). If the failure to file is intentional, a penalty of 10 percent of the tax due shall be imposed [R.S. 47:2330(A)]. If a taxpayer files a false report with the intent to defraud, a penalty of 10 percent of the tax due shall be imposed.
C. The assessor shall collect market sales, cost, and income data in determining fair market value.