Thibodaux, Louisiana Property Taxes
The median property tax rate in Thibodaux, LA is 1.17%, 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 $110,600 in Thibodaux, the typical annual property tax bill amounts to $1,243, still lower than the national median of $2,690. Property taxes in Thibodaux are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Thibodaux'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 Thibodaux 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
Thibodaux, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,294
Ownwell’s Thibodaux Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thibodaux with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thibodaux 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 Thibodaux, Louisiana
Property taxes in Thibodaux, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thibodaux is 1.17%, notably higher than the U.S. national median of 0.99%. Local government entities within Thibodaux set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thibodaux 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 Thibodaux's effective property tax rate to other regions and the national median. For comparison, the zip code 70301 has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these areas compare with Thibodaux provides valuable insights into the varying tax landscape across Assumption Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thibodaux Tax Rate
1.17%
Average Assumption County Tax Rate
1.08%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thibodaux, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70301 | 1.11% | 1.11% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Thibodaux, Louisiana
In Thibodaux, 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 Assumption 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 Thibodaux, 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 Thibodaux helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Thibodaux, both at $1,243, are seen in the zip code 70301.
Average Thibodaux Assessed Value
$110,600
Average Assumption County Assessed Value
$88,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thibodaux, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70301 | $40,760 | $69,550 | $110,600 | $171,950 | $248,400 |
Source: Ownwell
Property Tax Bills Across Thibodaux, Louisiana
In Thibodaux, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value, reflecting current real estate trends. For example, with a median home price of $110,600, homeowners in Thibodaux can expect varying tax bills depending on their property's assessed value and the applicable tax rates. Key factors influencing the tax bill include the property's location within Assumption Parish, any applicable exemptions, and the specific tax rates set by local authorities. The 25th percentile tax bill in Thibodaux is around $775, while the 75th percentile reaches $1,976, and the 90th percentile can go up to $2,894. These figures indicate a range of potential tax liabilities for homeowners, significantly impacting their annual financial planning. Comparatively, Thibodaux's tax rates can be contrasted with the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Thibodaux Tax Bill
$1,243
Average Assumption County Tax Bill
$951
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Thibodaux, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70301 | $461 | $775 | $1,243 | $1,976 | $2,894 |
Source: Ownwell