Marksville, Louisiana Property Taxes
The median property tax rate in Marksville, LA is 0.68%, significantly lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With a median home value of $50,300 in Marksville, the typical annual property tax bill is around $369, well below the national median of $2,690. Property taxes in Marksville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Marksville'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 Marksville 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
Marksville, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$342
$317
Ownwell’s Marksville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marksville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marksville 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 Marksville, Louisiana
Property taxes in Marksville, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marksville is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Marksville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marksville 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 Marksville's effective property tax rate to other areas in Avoyelles County and the national median. For comparison, the zip code 71351 has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Marksville provides valuable insights into the varying tax landscape across Avoyelles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marksville Tax Rate
0.68%
Average Avoyelles County Tax Rate
0.83%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marksville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71351 | 0.64% | 0.64% | 0.68% | 0.83% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Marksville, Louisiana
In Marksville, 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 Avoyelles 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 Marksville, 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 Marksville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the 71351 zip code is $369.00.
Average Marksville Assessed Value
$50,300
Average Avoyelles County Assessed Value
$50,400
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marksville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71351 | $12,400 | $25,000 | $50,300 | $89,366 | $138,827 |
Source: Ownwell
Property Tax Bills Across Marksville, Louisiana
In Marksville, Avoyelles County, LA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Factors such as the home's location, size, and condition play a significant role in determining this value. Homeowners in Marksville experience a range of property tax bills. For instance, the 25th percentile tax bill is $185, while the 75th percentile reaches $623. The 90th percentile tax bill can go up to $971. The median home price in Marksville is $50,300, which influences the overall tax rate. Compared to the national median property tax rate of 0.99%, Marksville's rates are relatively moderate. This means that while property taxes are a necessary expense for homeowners, they are not excessively high, making homeownership more affordable in this region. The highest and lowest median tax bills in the area are both $369, specifically in the 71351 zip code.
Average Marksville Tax Bill
$369
Average Avoyelles County Tax Bill
$436
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Marksville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71351 | $85 | $185 | $369 | $623 | $971 |
Source: Ownwell