Albany, Louisiana Property Taxes
The median property tax rate in Albany, LA is 1.15%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Albany at $90,570, the typical annual property tax bill reaches $1,043, exceeding the national median of $2,690. Property taxes in Albany 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 Albany'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 Albany 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
Albany, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,042
Ownwell’s Albany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Albany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albany 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 Albany, Louisiana
Property taxes in Albany, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Albany is 1.15%, higher than the U.S. national median of 0.99%. Local government entities within Albany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albany 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 Albany's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 70711 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these areas compare with Albany provides valuable insights into the varying tax landscape across Tangipahoa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albany Tax Rate
1.15%
Average Tangipahoa County Tax Rate
0.87%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albany, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70711 | 1.15% | 1.15% | 1.15% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Albany, Louisiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Albany, Louisiana. 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 Tangipahoa County 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 Albany, 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 Albany is $90,570, with the tax bill for the 25th percentile at $963 and the 75th percentile at $1,122. The highest median tax bill is $1,043 in the 70711 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Albany Assessed Value
$90,570
Average Tangipahoa County Assessed Value
$100,451
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albany, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70711 | $79,480 | $83,639 | $90,570 | $97,501 | $101,660 |
Source: Ownwell
Property Tax Bills Across Albany, Louisiana
In Albany, Tangipahoa County, LA, property tax bills are determined by assessing the home's value and applying the local tax rate. The median home price in Albany is $90,570, which serves as the foundation for calculating property taxes. The assessed value is typically a percentage of the market value, and local tax rates are then applied to this assessed value to determine the tax bill. For homeowners in Albany, the property tax bill varies significantly, with the 25th percentile at $963, the 75th percentile at $1122, and the 90th percentile reaching up to $1170. This range shows how property taxes can fluctuate based on property value and specific local tax rates. Comparatively, the highest and lowest median tax bills in Albany are both $1043, indicating a consistent tax rate across different areas within the zip code 70711. Understanding these factors is crucial for homeowners as property taxes can impact overall housing affordability and financial planning.
Average Albany Tax Bill
$1,043
Average Tangipahoa County Tax Bill
$889
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Albany, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70711 | $915 | $963 | $1,043 | $1,122 | $1,170 |
Source: Ownwell