§1702. Definitions
As used in this Subtitle, the following terms have the meaning ascribed to them in
this Section, unless the context clearly indicates otherwise:
(1) "Property" includes every form, character and kind of property, real, personal,
and mixed, tangible and intangible, corporeal and incorporeal, and every share, right, title or
interest therein or thereto, and every right, privilege, franchise, patent, copyright, trade-mark,
certificate, or other evidence of ownership or interest; bonds, notes, judgments, credits,
accounts, or other evidence of indebtedness, and every other thing of value, in possession,
on hand, or under the control, at any time during the calendar year for which taxes are levied,
within the State of Louisiana, of any person, firm, partnership, association of persons, or
corporation, foreign or domestic whether the same be held, possessed, or controlled, as
owner, agent, pledgee, mortgagee, or legal representative, or as president, cashier, treasurer,
liquidator, assignee, master, superintendent, manager, sequestrator, receiver, trustee,
stakeholder, depository, warehouseman, keeper, curator, executor, administrator, legatee,
heir, beneficiary, parent, attorney, usufructuary, mandatary, fiduciary, or other capacity,
whether the owner be known or unknown; except in the cases of fire, life, or other insurance
companies, the notes, judgments, accounts, and credits of nonresident persons, firms,
corporations, partnerships, associations, or companies doing business in the State of
Louisiana, originating from the business done in this state, are hereby declared to be property
with its situs within this state.
(2) "Real estate" or "immovable property" means and includes not only land, city,
town and village lots, but all things thereunto pertaining, and all structures and other
appurtenances thereto, as pass to the vendee by the conveyance of the land or lot.
(3) "Personal property" or "movable property" means and includes all things other
than real estate which have any pecuniary value, all monies, credits, investments in bonds,
stocks, franchises, shares in joint stock companies, or otherwise.
(4) "Money" or "moneys" means and includes gold, silver and other coin, bills of
exchange, bank bills or other bills or notes, authorized to be circulated as money, whether
in possession or subject to the draft of the depositor or the person having the beneficial
interest therein on demand.
(5) "Credit" includes every claim and demand for money, labor, merchandise and
other valuable things.
(6) "Person" or "persons", "taxpayer" or "taxpayers" includes firms, companies,
associations and corporations; all words importing the masculine gender apply to females
also, and all words in the plural number apply to single individuals in all cases in which the
spirit and intent of this Chapter require it.
(7) "Actual cash value," or "actual cash valuation," mean the valuation at which any
real or personal property is assessed for the purpose of taxation, after the assessing
authorities have considered every element of value in arriving at such valuation. The price
at which any piece of real estate or personal or movable property shall have been sold for
cash in the ordinary course of business, free of all encumbrances, otherwise than at forced
sale, shall be evidentiary only, and be considered with other factors in determining the actual
cash value for assessment purposes.
(8) "Rolling stock" includes any kind of locomotive, car, or sleeping car used either
for freight or passenger purposes, that may be operated over any railroad within this state.
(9) "Outer Continental Shelf Lands Act" shall mean Title 43 U.S.C. §1331 et seq.
(10) "Outer Continental Shelf Lands Act Waters" shall mean all waters above all
submerged land seaward and outside of the area of state submerged lands beneath navigable
waters as defined in the Submerged Lands Act, 43 U.S.C. §1301 et seq. The term shall
further mean all waters above Outer Continental Shelf submerged lands to which the Outer
Continental Shelf Lands Act applies.
(11) "The Submerged Lands Act" shall mean Title 43 U.S.C. §1301 et seq.
H.C.R. No. 88, 1993 R.S., eff. May 30, 1993; H.C.R. No. 1, 1994 R.S., eff. May 11,
1994; Acts 1994, 3rd Ex. Sess., No. 59, §1, eff. July 7, 1994; Acts 1997, No. 742, §1, eff.
July 9, 1997.