RS 48:998 - Ferries operated under franchise made separate class for taxation; valuation Ferries owned and operated under franchises granted for a specific number of years are a separate class for the purpose of assessment and taxation. These franchises shall be valued by the assessing authorities for state purposes at a sum equal to the price paid for the franchises divided by the number of years for which franchise is granted. This valuation and listing is binding for local purposes upon all subdivisions of the state in which the ferries are operated.
Louisiana Legal Code