Montgomery, Louisiana Property Taxes
The median property tax rate in Montgomery, LA is 1.52%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Montgomery at $33,100, the typical annual property tax bill reaches $509, which is significantly lower than the national median of $2,690. Property taxes in Montgomery 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 Montgomery'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 Montgomery 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
Montgomery, 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 Montgomery Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montgomery with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montgomery 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 Montgomery, Louisiana
Property taxes in Montgomery, Louisiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Montgomery is 1.52%, significantly higher than the U.S. national median of 0.99%. Local government entities within Montgomery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montgomery 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 Montgomery's effective property tax rate to other areas and the national median. For comparison, the zip code 71454 has the highest median property tax rate of 1.52%, while the same zip code also has the lowest median tax rate of 1.52%. Understanding how these areas compare with Montgomery provides valuable insights into the varying tax landscape across Grant Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montgomery Tax Rate
1.52%
Average Grant County Tax Rate
1.57%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71454 | 1.49% | 1.49% | 1.52% | 1.57% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery, Louisiana
In Montgomery, 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 Grant 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 Montgomery, 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. The median home price in Montgomery is $33,100, with tax bills ranging from $206 at the 25th percentile to $1,537 at the 90th percentile. The zip code 71454 has the highest median tax bill, standing at $509. 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 Montgomery helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montgomery Assessed Value
$33,100
Average Grant County Assessed Value
$52,470
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montgomery, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71454 | $6,500 | $13,300 | $33,100 | $68,540 | $99,140 |
Source: Ownwell
Property Tax Bills Across Montgomery, Louisiana
In Montgomery, Grant County, LA, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. Homeowners in Montgomery can expect their tax bills to vary significantly, with the 25th percentile paying around $206 and the 75th percentile paying up to $1,043. For those at the 90th percentile, tax bills can reach as high as $1,537. The median home price in Montgomery is relatively low at $33,100, which influences the overall tax burden. Despite this, property taxes can still be a significant expense for homeowners. The highest and lowest median tax bills in the area are both $509, suggesting a consistent rate across different parts of the city. Compared to the national median property tax rate of 0.99%, Montgomery's rates reflect local property values and assessment practices. Homeowners should be aware of these factors as they directly affect their annual tax obligations and overall financial planning.
Average Montgomery Tax Bill
$509
Average Grant County Tax Bill
$835
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71454 | $99 | $206 | $509 | $1,043 | $1,537 |
Source: Ownwell