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Rs 38:3087.64 Tax Exemption; Mineral Leases Unabridged

§3087.64. Tax exemption; mineral leases unabridged

Should the district or the Department of Transportation and Development acquire a servitude, right of use, or title in full ownership to immovable property or any other property, such property shall not be subject to any ad valorem tax or tax of any nature by the state of Louisiana or any political subdivision thereof so long as such property is used for the purpose of the district. The provisions of this Part shall in no way abridge the right of any individual, person, firm, or corporation from whom a servitude or right of use may have been acquired to lease the land subject thereto for the production of oil, gas, or other minerals and to produce or cause to be produced oil, gas, or other minerals from such property so long as said leases are subject to the terms and conditions of the servitude executed in favor of the commission.

Acts 1995, No. 443, §2, eff. June 17, 1995.

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Local Government
Louisiana
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John Bel Edwards
John Bel Edwards
January 11, 2016 -
Democratic
1-225-342-4404
900 North 3rd Street, Baton Rouge, LA, 70802

Keywords
lease
subject
servitude
long
tax
leases
mineral
abridge
minerals
oil