Ferriday, Louisiana Property Taxes
The median property tax rate in Ferriday, LA is 1.05%, slightly higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With a median home value in Ferriday of $36,100, the typical annual property tax bill reaches $413, which is significantly lower than the national median of $2,690. Property taxes in Ferriday are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ferriday'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 Ferriday or another part of Concordia Parish, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ferriday, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$379
Ownwell’s Ferriday Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferriday with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferriday 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 Ferriday, Louisiana
Property taxes in Ferriday, Louisiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferriday is 0.43%, significantly lower than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Ferriday set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferriday 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 Ferriday's effective property tax rate to other counties in Louisiana and the national median. For comparison, 71334 has the highest median property tax rate of 0.43%, while 71334 also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Ferriday provides valuable insights into the varying tax landscape across Concordia Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ferriday Tax Rate
1.05%
Average Concordia County Tax Rate
1.05%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferriday, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71334 | 1.05% | 1.05% | 1.05% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Ferriday, Louisiana
In Ferriday, 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 Concordia 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 Ferriday, 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 Ferriday helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ferriday are both $413, found in the 71334 zip code.
Average Ferriday Assessed Value
$36,100
Average Concordia County Assessed Value
$41,300
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ferriday, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71334 | $7,800 | $15,000 | $36,100 | $88,800 | $211,668 |
Source: Ownwell
Property Tax Bills Across Ferriday, Louisiana
In Ferriday, located in Concordia County, LA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. For example, with a median home price of $36,100, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $174, while those in the 75th percentile might see bills as high as $1,034. The 90th percentile tax bill can reach up to $2,273. Several factors influence these amounts, including property location, local tax rates, and any applicable exemptions. The highest and lowest median tax bills in Ferriday are both recorded at $413, indicating a relatively uniform tax rate across the area. Compared to the national median property tax rate of 0.99%, Ferriday's property taxes can be quite variable, impacting homeowners differently based on their property's assessed value and specific circumstances.
Average Ferriday Tax Bill
$413
Average Concordia County Tax Bill
$467
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferriday, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71334 | $86 | $174 | $413 | $1,034 | $2,273 |
Source: Ownwell