Commercial & Industrial

PERSONAL PROPERTY is every kind of property that is not real property. Personal property is considered movable property or property that is not permanently attached.

PERSONAL PROPERTY is reassessed annually. Property owners are required to annually submit a rendition of their properties on the appropriate LAT (Louisiana Tax) form.

LAT 5 is used to report general business assets such as inventories, merchandise, furniture and fixtures, machinery and equipment, leasehold improvements, miscellaneous property, consigned goods, leased, loaned, or rented equipment, etc.

LAT 5A is used to report tax-exempt assets including buildings, machinery and equipment, furniture and fixtures, consigned goods, leased, loaned, or rented equipment, etc.

LEASEHOLD IMPROVEMENTS are expenditures made by the Lessee to make the property of the Lessor adaptable to the Lessee’s use. Leasehold improvements can be real property improvements or items of personal property such as furniture and fixtures associated with a Lessee.