{"data":{"id":"us-la/rs-47-2321","jurisdiction":"us-la","citation":"RS 47:2321","heading":"Fair market value; defined","body":"Fair market value is the price for property which would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances; it shall be the highest price estimated in terms of money which property will bring if exposed for sale on the open market with reasonable time allowed to find a purchaser who is buying with knowledge of all the uses and purposes to which the property is best adapted and for which it can be legally used.","path":["TITLE 47. REVENUE AND TAXATION","PART II. FAIR MARKET VALUE"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=101586","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T05:02:43Z","sha256":"8a0ebab8cf6f5a3290266eb5b01f987355fce9b709df21276bf2f7775bf6d233","source_id":"us-la","stale":false,"prev":"us-la/rs-47-2309","next":"us-la/rs-47-2322"},"notice":"GroundRules: Original legal text. Not legal advice."}