AI-assisted research summary: Banks must file annual statements and real-estate lists with tax authorities, and bank-owned real estate is assessed directly at limited value.
§1970. Listing and assessing of real estate of banks The banking house and all real estate owned by any bank, banking company, firm, association or corporation shall be assessed directly to it in accordance with law at not to exceed its actual cash value, or whatever percentage thereof is determined upon by the tax commission for state assessment purposes, and the local taxing authorities for local purposes, without regard to the value of the property as shown on the statement of such bank, banking company, firm, association, or corporation, but such actual cash value or such percentage thereof as shall be equal and uniform with all other property of the same class. The real estate of any bank, banking company, firm, association, or corporation shall be assessed in the parish where it is located and the taxes paid in such parish. All state or national banks are hereby required to make and furnish on or before the fifteenth day of February of each and every year, to the local assessor and to the tax commission, a duly authenticated statement similar to those made by them as above set out to the comptroller of the currency or to the commissioner of financial institutions, showing their condition at the close of business on the thirty-first day of December of the previous year. All state or national banks are also hereby required to furnish on or before the fifteenth day of February of each and every year to the tax commission a list of the real estate and the assessed value thereof, as shown upon the assessment rolls of the current year or upon last completed assessment rolls, certified as to the assessed value by the parish assessor of the parish or parishes where the real estate is located, owned by the bank as of the first of January of each year, or owned by any corporation, all the capital stock of which (except directors' qualifying shares, if any) is owned by the bank and all, or substantially all, the assets of which consist of real estate acquired for debt, or the building or buildings in which are located the main or branch banking house or houses of the bank, banking company, firm, association or corporation, or the land on which they are situated, which list, certified by the local assessor, shall be the basis for deduction of assessed value of real estate as hereinabove provided for. H.C.R. No. 88, 1993 R.S., eff. May 30, 1993; H.C.R. No. 1, 1994 R.S., eff. May 11, 1994.