Louisiana Revised Statutes — Title 47 (Revenue and Taxation)
La. R.S. 47:2321
Fair market value; defined
Official textlegis.la.gov
Fair market value is the price for property which would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances; it shall be the highest price estimated in terms of money which property will bring if exposed for sale on the open market with reasonable time allowed to find a purchaser who is buying with knowledge of all the uses and purposes to which the property is best adapted and for which it can be legally used.
Source: view the official text
In this chapter (12 sections)
- 47:2321 · Fair market value; defined
- 47:2322 · Definitions
- 47:2323 · Criteria for determining fair market value; real and personal…
- 47:2324 · Data collection by the assessor
- 47:2325 · Forms
- 47:2326 · Adoption and approval of forms
- 47:2327 · Confidentiality of forms
- 47:2328 · Acts of transfer; improvements; contents
- 47:2329 · Property owner; failure to report; loss of right to question…
- 47:2330 · Penalties for intentional false, fraudulent, or incorrect…
- 47:2331 · Reassessment
- 47:2332 · Date of adoption of guidelines, manuals, rules, and…