Elizabeth, Louisiana Property Taxes
The median property tax rate in Elizabeth, LA is 1.86%, significantly higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Elizabeth at $46,500, the typical annual property tax bill reaches $890, although this is lower than the national median of $2,690. Property taxes in Elizabeth are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Elizabeth's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Elizabeth or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elizabeth, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$865
Ownwell’s Elizabeth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elizabeth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elizabeth to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Elizabeth, Louisiana
Property taxes in Elizabeth, Louisiana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elizabeth is 1.86%, significantly higher than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Elizabeth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elizabeth estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Elizabeth's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 70638 zip code has the highest median property tax rate of 1.86%, while the same zip code also has the lowest median tax rate of 1.86%. Understanding how these cities compare with Elizabeth provides valuable insights into the varying tax landscape across Allen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elizabeth Tax Rate
1.86%
Average Allen County Tax Rate
1.76%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elizabeth, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70638 | 1.82% | 1.82% | 1.86% | 2.07% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Elizabeth, Louisiana
In Elizabeth, Louisiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Allen Parish Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Elizabeth, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Elizabeth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Elizabeth is $46,500, with the highest median tax bill being $890 in zip code 70638, which is the same as the lowest median tax bill.
Average Elizabeth Assessed Value
$46,500
Average Allen County Assessed Value
$40,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elizabeth, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70638 | $12,470 | $23,725 | $46,500 | $77,325 | $130,000 |
Source: Ownwell
Property Tax Bills Across Elizabeth, Louisiana
In Elizabeth, Allen County, LA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Elizabeth is $46,500. Homeowners can expect their tax bills to vary widely, influenced by factors such as the assessed value and specific local tax rates. For instance, the tax bill at the 25th percentile is $486, while at the 75th percentile, it rises to $1,466, and at the 90th percentile, it can reach up to $2,496. These variations reflect differences in property values and local tax policies. Compared to the national median property tax rate of 0.99%, the property tax burden in Elizabeth can be significant for some homeowners. Understanding these factors is crucial for residents as they impact the overall cost of homeownership. Awareness of local property tax rates and assessments can help homeowners manage their finances better and anticipate annual tax obligations.
Average Elizabeth Tax Bill
$890
Average Allen County Tax Bill
$653
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Elizabeth, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70638 | $255 | $486 | $890 | $1,466 | $2,496 |
Source: Ownwell