Lake Arthur, Louisiana Property Taxes
The median property tax rate in Lake Arthur, LA is 1.08%, which is higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Lake Arthur at $60,000, the typical annual property tax bill reaches $646, falling below the national median of $2,690. Property taxes in Lake Arthur 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 Lake Arthur'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 Lake Arthur 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
Lake Arthur, 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 Lake Arthur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Arthur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Arthur 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 Jefferson Davis County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lake Arthur, Louisiana
Property taxes in Lake Arthur, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Arthur is 1.08%, which is higher than the U.S. national median of 0.99%. Local government entities within Lake Arthur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Arthur 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 Lake Arthur's effective property tax rate to other counties in Louisiana and the national median. For comparison, the zip code 70549 has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Lake Arthur provides valuable insights into the varying tax landscape across Jefferson Davis, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Arthur Tax Rate
1.08%
Average Jefferson Davis County Tax Rate
1.00%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Arthur, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70549 | 1.08% | 1.08% | 1.08% | 1.08% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Lake Arthur, Louisiana
In Lake Arthur, 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 Jefferson Davis County 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 Lake Arthur, 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 Lake Arthur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Lake Arthur is $60,000, with the highest and lowest median tax bills both recorded at $646 in the 70549 zip code.
Average Lake Arthur Assessed Value
$60,000
Average Jefferson Davis County Assessed Value
$71,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Arthur, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70549 | $17,904 | $33,000 | $60,000 | $97,000 | $179,229 |
Source: Ownwell
Property Tax Bills Across Lake Arthur, Louisiana
In Lake Arthur, Jefferson Davis County, LA, property tax bills are calculated by assessing the property's value and applying the local tax rate. The assessed value is typically a percentage of the market value of the home, which, in Lake Arthur, has a median home price of $60,000. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, in Lake Arthur, the 25th percentile of tax bills is around $361, while the 75th percentile reaches up to $1,055. At the higher end, the 90th percentile tax bill can be as much as $1,991. These property taxes significantly impact homeowners, as they are a recurring annual expense that can affect affordability and budgeting. Compared to the national median property tax rate of 0.99%, Lake Arthur's tax bills reflect the local economic conditions and property values.
Average Lake Arthur Tax Bill
$646
Average Jefferson Davis County Tax Bill
$712
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Arthur, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70549 | $194 | $361 | $646 | $1,055 | $1,991 |
Source: Ownwell