Frequently Asked Questions
WHAT IS "BUSINESS PERSONAL PROPERTY"?
In Louisiana, ad valorem taxes are levied on the assets used in a business. These include their inventory or merchandise, their furnishings and fixtures and their machinery and equipment. Renovations or the build out of leased space made by your business must also be assessed (this is referred to as a leasehold improvement). NOTE THAT LICENSED MOTOR VEHICLES ARE EXEMPT BY THE STATE CONSTITUTION.
WHO MUST FILE?
Any business having such assets in Orleans Parish must complete and file annually.
WHAT IF THE BUSINESS HAS CLOSED OR THE NAME HAS CHANGED?
In either case, do not file electronically. Please provide written verification that your occupational license has been terminated or that the business name is different from the City's Bureau of Revenue.
MUST WE FILE EACH YEAR?
Yes, state law requires that you must complete the business personal property report in full detail, even if there have been no changes in the assets owned from year to year.
WHAT HAPPENS IF WE DO NOT FILE?
If no report is filed, the existing assessment value will be determined by the assessor's office, and your failure to file will result in a waiver of your right to appeal the resulting valuation.
WHAT INFORMATION DO WE NEED TO SUPPLY?
You are required to provide the replacement value of your inventory in its existing condition. You must also supply the year of acquisition and the cost of all furnishings, equipment and leasehold improvements. You must also provide the name and address of the owner of property consigned to you or leased/rented/borrowed by your business. You must include all items that were expensed and may not be listed on your fixed asset schedule. It is assumed that all businesses own some furnishings and/or equipment.
WHAT IF WE HAVE OLD ASSETS THAT ARE FULLY DEPRECIATED?
All assets in your possession MUST be reported whether they have been fully depreciated or not.
ARE THERE ANY SPECIALIZED TYPES OF REPORTS?
The Louisiana Tax Commission has developed specialized reports for taxable watercraft, aircraft, pipelines, cable TV, cellular telephone, and for the oil and gas industry. Should you need to file such a report, you must do so on a hard copy by mail. For your convenience, the applicable reports may be found on either our website, www.nolaassessor.com or from the Tax Commission's website, www.latax.state.la.us
WHAT IS THE DEADLINE TO FILE?
You will be allowed to file reports through this website until April 30 of the current year. If you have not filed electronically by that date you must submit your report in hard copy by mail. State law requires that the business personal property report be filed by April 1 each year. Due to the large number of reports received we cannot guarantee that your report will be processed if you file after April 30 of the current year. However, we will attempt to process all non-electronic reports we receive until the tax rolls close near the end of August of the current year. If we process your report you will not be penalized for filing late.
WHERE CAN I GET ASSISTANCE IN COMPLETING THIS REPORT?
Most questions pertaining to the Business Personal Property Report can be answered by telephone if you call the Personal Property Division at (504) 658 -1350. Any of our appraisers will be glad to answer any questions you might have regarding the Personal Property Business Report, or schedule a convenient time to meet with you.