Lafitte, Louisiana Property Taxes
The median property tax rate in Lafitte, LA is 1.22%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Lafitte at $41,950, the typical annual property tax bill reaches $408, significantly lower than the national median of $2,690. Property taxes in Lafitte 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 Lafitte'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 Lafitte or another part of Jefferson Parish, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lafitte, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$512
Ownwell’s Lafitte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lafitte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lafitte 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 Lafitte, Louisiana
Property taxes in Lafitte, Louisiana, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Lafitte is 1.22%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lafitte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lafitte 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 Lafitte's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 70067 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Lafitte provides valuable insights into the varying tax landscape across Jefferson Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lafitte Tax Rate
1.22%
Average Jefferson County Tax Rate
0.83%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lafitte, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70067 | 0.14% | 0.61% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Lafitte, Louisiana
In Lafitte, 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 Jefferson 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 Lafitte, 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 Lafitte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 70067 has the highest and lowest median tax bill of $408.
Average Lafitte Assessed Value
$41,950
Average Jefferson County Assessed Value
$136,500
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lafitte, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70067 | $16,710 | $24,900 | $41,950 | $65,975 | $96,090 |
Source: Ownwell
Property Tax Bills Across Lafitte, Louisiana
In Lafitte, Jefferson County, LA, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, homes in Lafitte with a median home price of $41,950 can expect tax bills ranging from $215 at the 25th percentile to $760 at the 75th percentile, with the top 10% of tax bills reaching up to $1,367. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. This means that homeowners with higher-valued properties or fewer exemptions will face higher tax bills. Compared to the national median property tax rate of 0.99%, Lafitte's tax rates offer a relatively affordable option for homeowners. Understanding these factors can help homeowners anticipate their tax obligations and budget accordingly, making property ownership in Lafitte more predictable and manageable.
Average Lafitte Tax Bill
$408
Average Jefferson County Tax Bill
$1,204
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Lafitte, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70067 | $96 | $215 | $408 | $760 | $1,367 |
Source: Ownwell