A failure to assess in Baton Rouge

University House  740 W. Chimes St. Sold for: $108.5 million, October 2015 Assessment: $3.3 million Implied market value*: $33.8 million Assessed value/sale price: 31.2% Potential tax bill**: $1.3 million Actual tax bill: $416,867 Lost parish tax revenue**: $920,319

An analysis by Business Report of select commercial properties in East Baton Rouge Parish, including the University House apartments near LSU, suggests a pattern of under-assessment that is leaving…

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