Simsboro, Louisiana Property Taxes
The median property tax rate in Simsboro, LA is 0.88%, slightly below both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Simsboro at $60,836, the typical annual property tax bill is $532, significantly less than the national median of $2,690. Property taxes in Simsboro 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 Simsboro'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 Simsboro 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
Simsboro, 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 Simsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Simsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Simsboro 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 Lincoln County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Simsboro, Louisiana
Property taxes in Simsboro, Louisiana, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Simsboro is 0.88%, which is below the U.S. national median of 0.99%. Local government entities within Simsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Simsboro 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 Simsboro's effective property tax rate to other areas and the national median. For comparison, the highest and lowest median property tax rates in Simsboro both stand at 0.88%, reflecting a uniform rate across the region. Understanding how these figures compare with other areas provides valuable insights into the varying tax landscape across Lincoln Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Simsboro Tax Rate
0.88%
Average Lincoln County Tax Rate
0.89%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Simsboro, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71275 | 0.77% | 0.82% | 0.88% | 0.98% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Simsboro, Louisiana
In Simsboro, 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 Lincoln 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 Simsboro, 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. Simsboro's median home price is $60,836, with property tax bills ranging from $300 at the 25th percentile to $875 at the 75th percentile, and $1,430 at the 90th percentile. The highest and lowest median tax bills are both $532 in the 71275 zip code. Being aware of these valuation processes in Simsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Simsboro Assessed Value
$60,836
Average Lincoln County Assessed Value
$106,951
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Simsboro, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71275 | $14,328 | $30,767 | $60,836 | $105,403 | $171,538 |
Source: Ownwell
Property Tax Bills Across Simsboro, Louisiana
In Simsboro, Lincoln County, LA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax authorities determine the assessed value, and then apply the local tax rate to this value to calculate the tax bill. The median home price in Simsboro is $60,836, and the tax bills can vary significantly. For instance, the 25th percentile tax bill is $300, while the 75th percentile tax bill is $875, and the 90th percentile tax bill reaches $1,430. These variations are influenced by factors such as property size, location, and any applicable exemptions. The median tax bill in the area is $532, which is notably lower than the national median property tax rate of 0.99%. For homeowners, this means that while property taxes are relatively low, understanding how assessed values and local rates impact their specific tax obligations is crucial for financial planning.
Average Simsboro Tax Bill
$532
Average Lincoln County Tax Bill
$972
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Simsboro, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71275 | $178 | $300 | $532 | $875 | $1,430 |
Source: Ownwell