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Commission hears multiple routine valuation table updates and a request to move public‑service valuation timetable earlier
Summary
At its July 16 rules hearing the Louisiana Tax Commission received routine annual updates to tables used to value aircraft, pipelines, drilling rigs, and general business assets, and a request from assessors to move the public‑service valuation release earlier to aid local budget planning. Staff also notified the commission of a legislated change
The Louisiana Tax Commission’s July 16 rules hearing included a number of routine, technical updates to valuation tables that feed parish ad valorem assessments and related timetable requests from assessors.
Tax Commission staff proposed updating base dates and cost indices across several chapters: Tanisha Malvo said staff would update table 7‑03a‑1 and 7‑03b‑1 (floating equipment and non‑motor barges) and table 15‑03 (aircraft and helicopters) to a new base date of Jan. 1, 2025. LAA and other presenters proposed rolling forward replacement cost‑new (RCN) values and percent‑good depreciation tables for drilling rigs (chapter 11) and pipelines (chapter 13) based on market indices (Marshall & Swift petroleum index and Handy‑Whitman utility indexes or a 50/50 mix used historically) and data sources the assessors rely on.
On drilling rigs (chapter 11), assessors reported declining market values for many land rigs and proposed a broad trending of the tables for tax year 2026; they said service‑rig values have been stable. On pipelines (chapter 13) LAA described using FERC construction cost submissions and trending older project costs to current index years; updated pipeline per‑mile RCN figures for onshore and offshore rows changed little from prior years.
Assessors also asked the commission to move the public‑service value release earlier in the year. A parish assessor said receiving public‑service values by Sept. 1 has created scheduling problems because local taxing authorities set budgets by May 1; she asked the commission to provide values earlier and to supply more clarity about how values are derived so assessors can explain changes to taxing districts.
Staff also reported a legislative change: for financial‑institution assessments, the legislature in 2025 increased a tax credit from 50 percent to 100 percent for assessed values of property other than bank stock paid by the institution; staff proposed conforming rule changes to reflect the new statutory credit.
Commissioners asked for documentation on indices and for staff to explain certain multiplier tables used for general business assets. No final adoptions were made; the Commission took the proposed technical updates and timetable request under advisement and placed them in the rulemaking record for rebuttal and later adoption consideration.
