What’s On Your Louisiana Ballot: 2020 Amendment 2
Election day is less than a week away, on Tuesday November 3rd.
Since we're so close, we thought it would be a great chance to further explore some of what you'll see on this year's ballot. We can't break down every ballot for every precinct in the state, but if you're looking for your exact ballot, you can find it here. There are 7 proposed Constitutional Amendments in Louisiana this year. You'll also find a measure on Sports Wagering as well.
The second one you'll see, Amendment 2, is about reevaluating how taxes are assessed on oil and gas properties. Here's the text you'll see on your ballot:
Do you support an amendment to permit the presence or production of oil or gas to be included in the methodology used to determine the fair market value of an oil or gas well for the purpose of property assessment? (Amends Article VII, Section 4(B))
So what does that mean? If passed, this is the explanation from the Secretary of State:
Present Constitution provides that taxes may be levied on natural resources severed from the soil or water to be paid proportionally by the owners at the time of severance.
Present Constitution provides that natural resources may be classified for the purpose of taxation and may be predicated upon either the quantity or value of the products at the time and place of severance. Further provides that no further or additional tax or license shall be levied or imposed on oil, gas or sulphur leases or rights and no additional value shall be added to the assessment of land due to the presence of oil, gas or sulphur or their production therefrom.
Proposed Constitutional Amendment retains the present constitution and provides that the presence of oil or gas or the production thereof may be included in the methodology to determine the fair market value of an oil or gas well for ad valorem taxes.
So what does all of that mean for you?
A vote YES on this Amendment would be in favor of expanding the taxable values of properties with the presence of oil or gas or the production so they may be included in the methodology to determine the fair market value of an oil or gas well for ad valorem taxes.
A vote NO on this Amendment means no change to the current constitution.