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In 2004, the casino managed to have the property re-assessed by the Louisiana Tax Commission for $6.5 million, citing the market prices of former casino boats, even though Bally's was still in operation at the time.
proposed constitutional amendment to place term limits on parish tax assessors is headed for a vote in the Louisiana House.
Currently, the tax applies to corporations using capital or property in Louisiana, with rates set at $2.75 per $1,000 of taxable capital above $300,000. ... He also noted that simplifying ...
Louisiana exempts the first $7,500 of residential homestead from local property taxes. [8] Maine exempts the first $25,000 of a primary residential homestead from property taxes. This is paid to the municipality and refunded when state taxes are filed. [9] Michigan exempts the homeowner from paying the operating millage of local school districts.
The lawsuit will likely have far reaching implications on land made available to the public that includes over 400,000 acres in Louisiana. With the potential loss of tax exemptions more property owners will likely not renew leases and many will opt to self-manage property pursuing other uses like leasing to hunting clubs, that have become a ...
Examples are those getting the property as a gift and heirs. Also, those who purchase ownership interests in the owners of the property, such as shares of stock in a corporation owning the land, have not purchased an interest in the property itself and so are unprotected. Also, recording laws generally do not protect purchasers against real ...
A Property Tax Circuit Breaker is a tax refund in the United States given to low income individuals and families whose property tax liability is a large percentage of their yearly income. The term was coined by John Shannon of the Advisory Commission on Intergovernmental Relations in the 1960s.
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