AI-assisted research summary: Assessors may borrow money for reappraisal and reassessment costs, subject to parish or district limits and overall caps on loan amount, interest, and term.
§1874. Maximum loan; maximum aggregate amount; interest; terms A. Each loan guarantee shall be limited to the maximum established in Subsection B for each parish or district. The total amount of all outstanding loans shall not at any time exceed six million dollars. The interest rate shall not exceed seven percent per annum. The term of each loan shall not exceed a maximum of four years. B. Each assessor in the state is authorized to borrow an amount to defray the costs of reappraisal and reassessment as required by Article VII, Part II of the constitution, not to exceed the following: PARISH/DISTRICT AMOUNT Acadia $ 82,380 Allen 32,772 Ascension 64,644 Assumption 31,440 Avoyelles 61,020 Beauregard 40,536 Bienville 26,760 Bossier 106,692 Caddo 379,116 Calcasieu 241,212 Caldwell 16,776 Cameron 14,148 Catahoula 18,192 Claiborne 26,928 Concordia 34,824 DeSoto 36,744 East Baton Rouge 501,623 East Carroll 18,384 East Feliciana 25,056 Evangeline 51,216 Franklin 37,368 Grant 24,156 Iberia 95,028 Iberville 46,296 Jackson 26,760 Jefferson 621,575 Jefferson Davis 46,632 Lafayette 191,892 Lafourche 115,368 LaSalle 24,360 Lincoln 55,140 Livingston 68,052 Madison 22,332 Morehouse 51,420 Natchitoches 55,704 1st District, Orleans 126,686 2nd District, Orleans 126,686 3rd District, Orleans 126,686 4th District, Orleans 126,686 5th District, Orleans 126,686 6th District, Orleans 126,686 7th District, Orleans 126,686 Ouachita 205,548 Plaquemines 38,364 Pointe Coupee 34,044 Rapides 189,612 Red River 15,072 Richland 33,912 Sabine 32,784 St. Bernard 96,828 St. Charles 50,916 St. Helena 15,156 St. James 30,684 St. John the Baptist 38,496 St. Landry 124,644 St. Martin 54,996 St. Mary 89,568 St. Tammany 120,900 Tangipahoa 110,844 Tensas 13,512 Terrebonne 126,132 Union 32,412 Vermilion 70,068 Vernon 73,584 Washington 68,940 Webster 66,036 West Baton Rouge 27,708 West Carroll 20,772 West Feliciana 12,720 Winn 26,400 TOTAL $6,000,000 Added by Acts 1977, No. 571, §1, eff. July 15, 1977; H.C.R. No. 88, 1993 R.S., eff. May 30, 1993; H.C.R. No. 1, 1994 R.S., eff. May 11, 1994.