Overview of Louisiana Taxes
At just $1,187, Louisiana has the fourth-lowest median property tax payment in the U.S., making it one of the most affordable states for homeownership. Nationwide, the median property tax payment is a significantly higher: $3,211.
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To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
Louisiana Property Taxes
Louisiana has some of the lowest property tax rates in the U.S. Compared to the nationwide effective property tax rate (0.89%), Louisiana has a rate of just 0.53%. That means the typical homeowner pays only 0.53% of their home value in property taxes each year.
One reason Louisiana has such low property taxes is the state’s generous homestead exemption, which reduces the taxable value of owner-occupied properties by $7,500 in assessed value. That saves many homeowners hundreds of dollars each year.
If you’re looking to buy a home in Louisiana, take a look at our Louisiana mortgage guide to gain a better sense of the ins and outs of getting a mortgage in Louisiana.
A financial advisor can help you understand how homeownership fits into your overall financial goals. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
How Louisiana Property Taxes Work
Property tax bills in Louisiana follow an annual cycle. They are generally sent out in November of each year and are due by Dec. 31. Any bills not paid by that date are considered delinquent. The taxes due are based on two factors: the assessed value of your property and your local tax rate.
Local assessors are in charge of establishing assessed values. The first step is to determine market value. By state law, all property in a parish (which is equivalent to a county) must be assessed at least once every four years for existing properties. To calculate value most assessors use a sales approach. This is when they use the sales prices of nearby comparable properties to determine market values for properties across a certain area.
Once a property’s market value has been determined, the assessment percentage is applied. For residential property in Louisiana, assessed value is equal to 10% of market value. So if your home has a market value of $100,000, your assessed value would be $10,000.
Homeowners in Louisiana are eligible for the homestead exemption, which can significantly reduce property taxes owed. The homestead exemption applies to owner-occupied primary residences and reduces assessed value by $7,500. Thus, the net assessed taxable value for the home in the above example would be just $2,500.
However, note that the homestead exemption does not apply to city taxes. Thus, when calculating city taxes, you must use the full assessed value without the exemption.
Louisiana Property Tax Rates
Many types of local government entities in Louisiana can levy property taxes. These tax authorities each have their own rates, which generate the revenue they need to operate. Thus, for a single homeowner, the total tax rate is the sum of all the individual rates of any local tax districts.
The property tax rates that appear on bills are denominated in millage rate. A mill is equal to $1 of tax for every $1,000 of net assessed taxable value. If your net assessed taxable value is $10,000 and your total millage rate is 50, your taxes owed will be $500.
Another way of comparing tax rates between districts and between states is the effective tax rate. The effective tax rate is equal to median annual tax payment divided by median home value. It gives a good idea of what taxes will be based on the actual market value of a home. The table below shows effective property tax rates for a cross section of parishes in Louisiana.
Want to learn more about your mortgage payments? Check out our mortgage calculator.
East Baton Rouge Parish
East Baton Rouge Parish is the most populous county in Louisiana and contains the state capital of Baton Rouge. While the effective property tax rate in East Baton Rouge Parish (0.70%) ranks among the highest in Louisiana, it is still quite low when compared to the rest of the U.S. The median property tax bill in this part of the state is $1,818.
Jefferson Parish
Located in southeast Louisiana adjacent to the city of New Orleans, Jefferson Parish has an effective property tax rate of 0.53%. This rate is based on a median home value of $261,700 and a median annual tax payment of $1,375.
Orleans Parish
Thinking about a move to New Orleans? The city, which is coterminous with Orleans Parish, has the highest effective property tax rate in the state of Louisiana, although it's still far below the national average. The effective property tax rate here is 0.88% and the median annual property tax payment is $2,695.
If you have questions about how property taxes can affect your overall financial plans, a financial advisor in New Orleans can help you out.
Caddo Parish
The typical homeowner in Caddo Parish pays $1,040 annually in property taxes, which is about a third of the national median. That amount will vary depending on where you live and how much your home is worth. However, the median home value in the parish is $181,700.
St. Tammany Parish
The typical homeowner in St. Tammany Parish pays $1,994 per year in property taxes, while the median home is worth $296,500. As a result, the parish's effective property tax rate is 0.67%.
Lafayette Parish
Located in southern Louisiana, Lafayette Parish has property tax rates similar to those of other urban parishes in Louisiana. The effective property tax rate in the parish is 0.55%. At that rate, the taxes due on a home equal to the county's $250,500 median value would be $1,370 per year. In comparison, the statewide median home value is $223,200 and the median annual property tax payment is $1,187.
Calcasieu Parish
Calcasieu Parish is one of the most populous parishes in Louisiana. The median annual property tax payment in Calcasieu Parish is just $1,101 per year. While the parish's $219,500 median home value is relatively low compared to national marks, property tax rates are even lower. The parish’s effective property tax rate of 0.50% ranks among the lowest of all U.S. counties and parishes.
Ouachita Parish
Ouachita Parish is located in northeast Louisiana and contains the city of Monroe. A typical homeowner in the Parish can expect to pay around $860 in annual property tax payments on a home valued at about $210,500. The effective property tax rate in the parish is even lower than Calcasieu Parish at 0.41%.
Rapides Parish
Situated in central Louisiana along the Red River, Rapides Parish has an effective property tax rate of 0.55%. The median homeowner there pays just $930 per year in property taxes.
Livingston Parish
At 0.41%, Livingston Parish has an extremely low effective tax rate, even for Louisiana. Because median home values are around $231,600, the median property tax bill is just under $950 per year.
