Buras, Louisiana Property Taxes
The median property tax rate in Buras, LA is 0.70%, notably lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Buras, the typical annual property tax bill is $232, significantly below the national median of $2,690. Property taxes in Buras are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Buras's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Buras or another part of Plaquemines County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buras, 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 Buras Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buras with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buras 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 Buras, Louisiana
Property taxes in Buras, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buras is 0.70%, which is lower than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Buras set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buras 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 Buras's effective property tax rate to other areas in Louisiana and the national median. For comparison, the zip code 70041 has both the highest and lowest median property tax rate of 0.70%. Understanding how these areas compare with Buras provides valuable insights into the varying tax landscape across Plaquemines Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buras Tax Rate
0.70%
Average Plaquemines County Tax Rate
0.70%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buras, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70041 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Buras, Louisiana
In Buras, 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 Plaquemines 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 Buras, 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 Buras is $32,980, with tax bills varying widely; the 25th percentile tax bill is $125, while the 75th percentile tax bill is $424. The highest and lowest median tax bills are both $232, found in the 70041 zip code. Being aware of these valuation processes in Buras helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Buras Assessed Value
$32,980
Average Plaquemines County Assessed Value
$121,860
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buras, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70041 | $10,080 | $17,740 | $32,980 | $60,200 | $124,450 |
Source: Ownwell
Property Tax Bills Across Buras, Louisiana
In Buras, located in Plaquemines Parish, LA, 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 Buras is $32,980, and property taxes are comparatively lower than the national median property tax rate of 0.99%. Homeowners in this region see a range of tax bills depending on their property's assessed value. For instance, those in the 25th percentile pay around $125, while those in the 75th percentile face tax bills up to $424. At the higher end, the 90th percentile tax bill can reach $877. The highest and lowest median tax bills in Buras are both $232, reflecting a consistent property tax rate within the 70041 zip code. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to community improvements and maintaining property values.
Average Buras Tax Bill
$232
Average Plaquemines County Tax Bill
$859
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Buras, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70041 | $71 | $125 | $232 | $424 | $877 |
Source: Ownwell