Benton, Louisiana Property Taxes
The median property tax rate in Benton, LA is 0.91%, aligning with the state median but slightly below the national median of 0.99%. With a median home value of $191,312, the typical annual property tax bill in Benton reaches $1,569, which is significantly lower than the national median of $2,690. Property taxes in Benton are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Benton’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 Benton 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
Benton, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,741
Ownwell’s Benton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Benton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benton 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 Benton, Louisiana
Property taxes in Benton, Louisiana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Benton is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Benton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benton 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. Understanding how these rates are determined can help homeowners navigate their property tax obligations more effectively. For comparison, the zip code 71006 has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. This uniformity provides a consistent tax landscape within Benton, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benton Tax Rate
0.91%
Average Bossier County Tax Rate
0.89%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benton, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71006 | 0.15% | 0.60% | 0.91% | 1.10% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Benton, Louisiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Benton, Louisiana. 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 Bossier Parish Assessor 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 Benton, 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. For instance, the median home price in Benton is $191,312, with tax bills ranging from $352 at the 25th percentile to $4,482 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 71006, with a median tax bill of $1,569. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Benton Assessed Value
$191,312
Average Bossier County Assessed Value
$124,242
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benton, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71006 | $27,179 | $70,176 | $191,312 | $298,852 | $428,135 |
Source: Ownwell
Property Tax Bills Across Benton, Louisiana
In Benton, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Benton is $191,312. Property taxes are determined by multiplying the assessed value by the local tax rate. For instance, the median property tax bill in Benton is $1,569, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Benton may see tax bills ranging from $352 at the 25th percentile to $4,482 at the 90th percentile. These variations can significantly impact household budgets, making it crucial for homeowners to understand how their property taxes are calculated. By staying informed, they can better manage their finances and potentially seek exemptions or appeals to lower their tax burden.
Average Benton Tax Bill
$1,569
Average Bossier County Tax Bill
$943
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Benton, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71006 | $36 | $352 | $1,569 | $2,900 | $4,482 |
Source: Ownwell