Downsville, Louisiana Property Taxes
The median property tax rate in Downsville, LA is 0.86%, slightly lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Downsville at $117,951, the typical annual property tax bill amounts to $1,014, well below the national median of $2,690. Property taxes in Downsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Downsville'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 Downsville or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Downsville, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,014
Ownwell’s Downsville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Downsville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Downsville to provide an estimated property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Downsville, Louisiana
Property taxes in Downsville, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Downsville is 0.86%, slightly lower than the U.S. national median of 0.99%. Local government entities within Downsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Downsville 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 Downsville's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71234 zip code in Lincoln County has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with Downsville provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Downsville Tax Rate
0.86%
Average Lincoln County Tax Rate
0.89%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Downsville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71234 | 0.83% | 0.84% | 0.86% | 0.90% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Downsville, Louisiana
In Downsville, 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 Lincoln 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 Downsville, 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. In Downsville, the zip code 71234 has both the highest and lowest median tax bill at $1,014. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Downsville Assessed Value
$117,951
Average Lincoln County Assessed Value
$106,951
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Downsville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71234 | $30,750 | $72,306 | $117,951 | $180,638 | $208,600 |
Source: Ownwell
Property Tax Bills Across Downsville, Louisiana
In Downsville, property tax bills are calculated based on the assessed value of your home and the applicable tax rate set by Lincoln County. The assessed value is a percentage of the market value of your property. For instance, if the median home price in Downsville is $117,951, your property tax bill will be a percentage of this value. The tax rate in Lincoln County can significantly affect the amount you owe. Homeowners in Downsville experience varying property tax bills, with the 25th percentile paying around $649 and the 75th percentile paying up to $1,515. At the 90th percentile, tax bills can reach $1,741. These figures indicate that property taxes in Downsville can vary widely, impacting homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Downsville's rates can be considered moderate, making it essential for homeowners to understand how their tax bills are determined and budget accordingly.
Average Downsville Tax Bill
$1,014
Average Lincoln County Tax Bill
$972
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Downsville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71234 | $317 | $649 | $1,014 | $1,515 | $1,741 |
Source: Ownwell