Lakeland, Louisiana Property Taxes
The median property tax rate in Lakeland, LA is 0.61%, considerably lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Lakeland at $134,850, the typical annual property tax bill reaches $841, significantly below the national median of $2,690. Property taxes in Lakeland 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 Lakeland'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 Lakeland or another part of Pointe Coupee, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakeland, 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 Lakeland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakeland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeland 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 Lakeland, Louisiana
Property taxes in Lakeland, Louisiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeland is 0.61%, significantly lower than the U.S. national median of 0.99%. Local government entities within Lakeland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeland 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 Lakeland's effective property tax rate to other areas in Louisiana and the national median. For comparison, the zip code 70752 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Lakeland provides valuable insights into the varying tax landscape across Pointe Coupee, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeland Tax Rate
0.61%
Average Pointe Coupee County Tax Rate
0.65%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70752 | 0.61% | 0.61% | 0.61% | 0.61% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Lakeland, Louisiana
In Lakeland, 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 Pointe Coupee Parish Assessor's Office 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 Lakeland, 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 Lakeland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lakeland is $841 in the 70752 zip code, while the lowest is also $841 in the same zip code.
Average Lakeland Assessed Value
$134,850
Average Pointe Coupee County Assessed Value
$86,100
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70752 | $50,600 | $83,450 | $134,850 | $199,850 | $281,200 |
Source: Ownwell
Property Tax Bills Across Lakeland, Louisiana
In Lakeland, property tax bills are calculated based on the assessed value of the property, which is determined by the Pointe Coupee County assessor's office. The assessed value is a percentage of the market value of the home. For instance, if the median home price is $134,850, the assessed value would be a fraction of this amount, depending on local assessment ratios. Once the assessed value is established, local tax rates are applied to determine the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For example, the tax bill for the 25th percentile is around $520, while the 75th percentile sees bills closer to $1,237. Homeowners in the 90th percentile might expect to pay up to $1,730. These taxes are essential for funding local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Lakeland's tax rates can significantly impact homeowners, making it crucial to understand how these calculations affect overall financial planning.
Average Lakeland Tax Bill
$841
Average Pointe Coupee County Tax Bill
$566
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70752 | $324 | $520 | $841 | $1,237 | $1,730 |
Source: Ownwell