The Assessor is required by the Louisiana Constitution to list, value and enumerate all property subject to ad valorem taxation on an Assessment Roll each year. The “ad valorem” basis for taxation means that all property should be taxed “according to value” which is the definition of ad valorem. The Assessed Value is a percentage of “Fair Market Value” or “Use Value” as prescribed by law. The Assessor’s Office must appraise and assess approximately 15,000 parcels of property. All public service properties are assessed by the Louisiana Tax Commission.