Forest, Louisiana Property Taxes
The median property tax rate in Forest, LA is 0.68%, which is notably lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With a median home value of $73,000 in Forest, the typical annual property tax bill amounts to $499, significantly below the national median of $2,690. Property taxes in Forest are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Forest's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Forest or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forest, 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 Forest Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forest with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forest 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 Forest, Louisiana
Property taxes in Forest, Louisiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forest is 0.68%, lower than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Forest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forest 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 Forest's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71242 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Forest provides valuable insights into the varying tax landscape across West Carroll, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forest Tax Rate
0.68%
Average West Carroll County Tax Rate
0.68%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forest, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71242 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Forest, Louisiana
In Forest, 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 West Carroll 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 Forest, 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 Forest helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 71242, with a median tax bill of $499, which is also the lowest median tax bill in the area.
Average Forest Assessed Value
$73,000
Average West Carroll County Assessed Value
$70,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forest, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71242 | $73,000 | $73,000 | $73,000 | $73,000 | $73,000 |
Source: Ownwell
Property Tax Bills Across Forest, Louisiana
Property tax bills in Forest, West Carroll, LA, are determined by multiplying the assessed value of a property by the local tax rate. In this region, the median home price is $73,000. The assessed value typically represents a percentage of the market value, and local tax authorities apply the tax rate to this assessed value to calculate the annual tax bill. For instance, homeowners in Forest experience a median tax bill of $499, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. Factors influencing the tax bill include property value assessments, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Forest's property tax rate results in relatively lower annual tax bills. This consistency in tax bills provides a predictable financial obligation for homeowners, making it easier to budget for annual expenses. Understanding these factors helps homeowners anticipate their property tax liabilities and manage their finances more effectively.
Average Forest Tax Bill
$499
Average West Carroll County Tax Bill
$496
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Forest, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71242 | $499 | $499 | $499 | $499 | $499 |
Source: Ownwell