Mansfield, Louisiana Property Taxes
The median property tax rate in Mansfield, LA is 1.10%, which is higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With a median home value of $38,250 in Mansfield, the typical annual property tax bill amounts to $421, lower than the national median of $2,690. Property taxes in Mansfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Mansfield'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 Mansfield or another part of Red River County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mansfield, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$421
Ownwell’s Mansfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mansfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mansfield 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 Mansfield, Louisiana
Property taxes in Mansfield, Louisiana, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Mansfield is 0.48%, significantly lower than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Mansfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mansfield 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 Mansfield's effective property tax rate to other counties in Louisiana and the national median. For comparison, 71052 has the highest median property tax rate of 0.48%, while 71052 also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Mansfield provides valuable insights into the varying tax landscape across De Soto Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mansfield Tax Rate
1.10%
Average Red River County Tax Rate
1.06%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mansfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71052 | 1.10% | 1.10% | 1.10% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Mansfield, Louisiana
In Mansfield, 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 local appraisal district 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 Mansfield, 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 Mansfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mansfield is $38,250, with tax bills ranging from $244 at the 25th percentile to $1,597 at the 90th percentile. The zip code with the highest and lowest median tax bills is 71052, both at $421.
Average Mansfield Assessed Value
$38,250
Average Red River County Assessed Value
$51,600
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mansfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71052 | $16,620 | $22,750 | $38,250 | $65,925 | $145,090 |
Source: Ownwell
Property Tax Bills Across Mansfield, Louisiana
In Mansfield, located in Red River County, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value, and the property tax rate is then applied to this assessed value. Homeowners in Mansfield experience a range of property tax bills, with the 25th percentile paying around $244 annually, while those in the 75th percentile pay approximately $726. The 90th percentile sees a tax bill of about $1,597. These tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. For instance, the highest median tax bill in Mansfield is recorded at $421, which is considerably lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable in Mansfield compared to other regions. Understanding these factors can help homeowners better anticipate their annual property tax obligations and budget accordingly.
Average Mansfield Tax Bill
$421
Average Red River County Tax Bill
$549
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Mansfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71052 | $183 | $244 | $421 | $726 | $1,597 |
Source: Ownwell