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Industrial Tax Exemption |
| As an inducement for industry to locate
in Louisiana or to expand their present facilities, a
ten-year exemption from property taxes for certain new facilities may be secured. The
exemption is for the "contract" value of buildings or equipment used by a
business. When the exemption expires,the property is to be placed on the tax rolls at 15%
of its then current market value.
Applicants applying for and receiving exemptions from local taxes
must make a good faith effort to give consideration to the use of Louisiana manufacturers
and labor in the construction and acquisition of the proposed tax exempt property, except
where not reasonably possible.
The terms "manufacturing establishment" and
"addition" as used herein, mean a new plant or addition to any existing plant or
equipment which engage in the business of working raw materials into wares suitable for
use. Land does not qualify for an exemption.
The program is administered by the Louisiana Office of Commerce and
Industry. For more information contact:
Louisiana Department of Economic Development
Office of Commerce and Industry
P. O. Box 94185
Baton Rouge, LA 70804
Telephone 225-342-9218 |
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