Wakefield, Louisiana Property Taxes
The median property tax rate in Wakefield, LA is 0.84%, which is notably lower than the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Wakefield being $38,400, the typical annual property tax bill is $322, significantly below the national median of $2,690. Property taxes in Wakefield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wakefield'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 Wakefield or another part of West Feliciana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wakefield, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$323
Ownwell’s Wakefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wakefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wakefield 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 Wakefield, Louisiana
Property taxes in Wakefield, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wakefield is 0.84%, which is lower than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Wakefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wakefield 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 Wakefield's effective property tax rate to other counties in Louisiana and the national median. For comparison, the zip code 70784 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Wakefield provides valuable insights into the varying tax landscape across West Feliciana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wakefield Tax Rate
0.84%
Average West Feliciana County Tax Rate
0.84%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wakefield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70784 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Wakefield, Louisiana
In Wakefield, 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 Feliciana County Appraisal District 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 Wakefield, 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. The median home price in Wakefield is $38,400, with tax bills ranging from $228 at the 25th percentile to $1,469 at the 90th percentile. Notably, the highest and lowest median tax bills are both $322 in the zip code 70784. 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 Wakefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wakefield Assessed Value
$38,400
Average West Feliciana County Assessed Value
$186,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wakefield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70784 | $20,480 | $27,200 | $38,400 | $123,795 | $175,032 |
Source: Ownwell
Property Tax Bills Across Wakefield, Louisiana
In Wakefield, property tax bills are determined based on the assessed value of your home and the local tax rate. The assessed value is a percentage of your property's market value, which is then multiplied by the tax rate set by local authorities. For instance, with a median home price of $38,400, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $228, while those in the 75th percentile face bills of approximately $1,039. At the 90th percentile, the tax bill can rise to about $1,469. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Wakefield homeowners experience a relatively moderate tax impact. This system ensures that property taxes are equitably distributed, reflecting the value and characteristics of individual properties. Understanding these factors can help homeowners anticipate their tax responsibilities and plan accordingly.
Average Wakefield Tax Bill
$322
Average West Feliciana County Tax Bill
$1,561
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Wakefield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70784 | $172 | $228 | $322 | $1,039 | $1,469 |
Source: Ownwell