Use value is the taxable value that is set by the state specifically for agricultural land devoted to the production for sale, in reasonable commercial quantities, of plants and animals, or their products, OR horticultural land devoted to the production for sale, in reasonable commercial quantities, of fruits, vegetables, flowers, or ornamental plants.
In order to qualify for Use Value, the property must …• Meet the definition for bonafide agricultural land or bonafide horticultural land (LA RS 47:2302)
• Be at least three acres, or
• Have produced an average annual gross income of at least $2,000 in one or more of the four years preceding the application for use value.
If claiming homestead exemption along with use value, one acre will be reserved for the homesite and will not qualify for use value.