Lettsworth, Louisiana Property Taxes
The median property tax rate in Lettsworth, LA is 0.62%, considerably lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Lettsworth at $46,900, the typical annual property tax bill reaches $303, significantly below the national median of $2,690. Property taxes in Lettsworth are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lettsworth'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 Lettsworth 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
Lettsworth, 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 Lettsworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lettsworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lettsworth 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 Lettsworth, Louisiana
Property taxes in Lettsworth, Louisiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lettsworth is 0.62%, which is lower than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Lettsworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lettsworth 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 Lettsworth's effective property tax rate to other areas in Louisiana and the national median. For comparison, the zip code 70753 has both the highest and the lowest median property tax rate of 0.62%. Understanding how these areas compare with Lettsworth 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 Lettsworth Tax Rate
0.62%
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 Lettsworth, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70753 | 0.62% | 0.62% | 0.62% | 0.62% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Lettsworth, Louisiana
In Lettsworth, 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 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. Assessment notices in Lettsworth 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 Lettsworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $303 in the 70753 zip code, which is significantly lower than the national median property tax rate of 0.99%.
Average Lettsworth Assessed Value
$46,900
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 Lettsworth, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70753 | $7,784 | $20,500 | $46,900 | $74,440 | $120,600 |
Source: Ownwell
Property Tax Bills Across Lettsworth, Louisiana
In Lettsworth, Pointe Coupee County, LA, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Lettsworth, the median home price is $46,900. The property tax rate in this region results in a median tax bill of $303, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property location, market trends, and any applicable exemptions. For instance, tax bills can range from $136 at the 25th percentile to $858 at the 90th percentile. This variance can impact homeowners differently, affecting their annual financial planning. Lower tax bills can make homeownership more affordable, while higher tax bills may require more careful budgeting. Understanding these factors can help homeowners anticipate and manage their property tax obligations effectively.
Average Lettsworth Tax Bill
$303
Average Pointe Coupee County Tax Bill
$566
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Lettsworth, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70753 | $54 | $136 | $303 | $502 | $858 |
Source: Ownwell