Oak Ridge, Louisiana Property Taxes
The median property tax rate in Oak Ridge, LA is 0.99%, aligning with the national median of 0.99% and slightly higher than the Louisiana state median of 0.91%. With the median home value in Oak Ridge at $59,200, the typical annual property tax bill amounts to $598, which is significantly lower than the national median of $2,690. Property taxes in Oak Ridge are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Oak Ridge'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 Oak Ridge 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
Oak Ridge, Louisiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,820
Ownwell’s OAK RIDGE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in OAK RIDGE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in OAK RIDGE 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 Oak Ridge, Louisiana
Property taxes in Oak Ridge, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Ridge is 0.99%, aligning with the U.S. national median of 0.99%. Local government entities within Oak Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Ridge 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 Oak Ridge's effective property tax rate to other areas in Louisiana and the national median. For comparison, the 71264 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Oak Ridge provides valuable insights into the varying tax landscape across Morehouse Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oak Ridge Tax Rate
0.99%
Average Morehouse County Tax Rate
1.19%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Ridge, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71264 | 0.99% | 0.99% | 0.99% | 1.01% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Oak Ridge, Louisiana
In Oak Ridge, 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 Morehouse 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 Oak Ridge, 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. The median home price in Oak Ridge is $59,200, with tax bills ranging from $257 at the 25th percentile to $2,183 at the 90th percentile. The zip code 71264 has both the highest and lowest median tax bill at $598. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oak Ridge Assessed Value
$59,200
Average Morehouse County Assessed Value
$47,417
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oak Ridge, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71264 | $10,920 | $25,358 | $59,200 | $120,240 | $198,250 |
Source: Ownwell
Property Tax Bills Across Oak Ridge, Louisiana
In Oak Ridge, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $59,200, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as the property's size, location, and any improvements can influence the assessed value. In Oak Ridge, tax bills can range significantly; the 25th percentile tax bill is $257, while the 75th percentile reaches $1,266, and the 90th percentile can go up to $2,183. These tax bills are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the quality of community resources. Compared to the national median property tax rate of 0.99%, Oak Ridge's property taxes reflect the local economic conditions and public service needs.
Average Oak Ridge Tax Bill
$598
Average Morehouse County Tax Bill
$587
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Ridge, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71264 | $108 | $257 | $598 | $1,266 | $2,183 |
Source: Ownwell