The Vermilion Parish Assessor's Office must appraise and assess value on approximately 50,000 parcels of property. The Louisiana Constitution requires the assessor to list and place a value on all property that is subject to ad valorem taxes. Ad valorem means "according to value." The value that the assessor determines is called "assessed value" and is a percentage of fair market value or use value as prescribed by law. The assessed value is calculated as a percentage of the market value as provided for by law.
| Land: | 10% FMV |
|---|---|
| Residential Improvements: | 10% FMV |
| Commercial (includes personal): | 15% FMV |
| Commercial land: | 10% FMV |
Taxes are calculated by multiplying the assessed value by the tax rate set by various millages, bond rates and fees voted on by registered voters in different districts established by the Legislature or Constitution. If the property is your home, you may deduct a maximum of $7,500 from the total assessed value before finding the taxable assessed value. For example, if your home is valued at $100,000 and assessed at 10%, or $10,000, and you are eligible and have signed for homestead exemption, you would calculate your taxes as follows:
| Assessed Value | 10,000 | |
|---|---|---|
| Homestead Exemption | - 7,500 | |
| Taxable Assessed Value | 2,500 | |
| Assumed Tax Rate | x .107 | |
| Totals | $267.50 |
In order to appeal to the Louisiana Tax Commission a taxpayer must start at the parish assessor’s office. During a period of 15 days between August 1 and September 15th the assessment lists of each parish are open for public inspection. The assessor will publish in the local newspaper which two weeks apply to his/her office. During this period, taxpayers should check the values on their property, and discuss this with the assessor. If there is a disagreement, and the taxpayer wishes to protest the value, the taxpayer must at that time fill out a form “Notice of Appeal Request for Board of Review” (form 3101) and schedule an appearance before the parish Board of Review for a hearing held for this purpose. The date of the hearing of the Board of Review will also be published in the local newspaper.
The Board of Review office (Police Jury) in the parish will determine if any changes should be made to the assessment values in question. If either the assessor or the taxpayer is not satisfied with the determination of the Board of Review, either may obtain from the Board, an Appeal Form (Form 3103.A) for further review by the Louisiana Tax Commission. The Louisiana Tax Commission will consider any and all appeals timely filed in hearings that are open to the public. Those considering appeals are encouraged to consult the assessor, parish board of review and the Louisiana Tax Commission for specific procedures, dates, times, and places of all hearings.