This week, the Bienville Parish Assessor’s Office explained to property owners in Bienville Parish about an important detail that may affect property tax assessment if those owners split their land.
According to Louisiana Tax Commission Rules and Regulations, for property to qualify for Use Value Assessment, which allows the land to be assessed at a per-acre rate instead of full market value, the tract must be larger than three acres.
This means that any tracts left under three acres as a result of a property split will no longer qualify for Use Value. Instead, these smaller tracts will be assessed at fair market value, which is typically higher than the per-acre rate.
The Assessor’s Office encourages all landowners to carefully consider the size of each tract when planning to divide property. If anyone is unsure how a split may impact their taxes or whether their parcel still qualifies for use value, contact the Assessor’s Office before finalizing the division. The Assessor’s Office and its staff are happy to assist citizens in reviewing their options and understanding the potential tax implications. Their goal is to help property owners make informed decisions and avoid any surprises on their assessment notices.