Morrow, Louisiana Property Taxes
The median property tax rate in Morrow, LA is 0.98%, slightly below the national median of 0.99% but higher than Louisiana's state median of 0.91%. With a median home value of $45,750 in Morrow, the typical annual property tax bill is $394, significantly lower than the national median of $2,690. Property taxes in Morrow are determined based on the assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Familiarizing yourself with Morrow'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 Morrow 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
Morrow, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$448
Ownwell’s Morrow Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morrow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morrow to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Morrow, Louisiana
Property taxes in Morrow, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morrow is 0.98%, slightly lower than the Louisiana state median of 0.99% and also just below the U.S. national median of 0.99%. Local government entities within Morrow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morrow 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 Morrow's effective property tax rate to other counties in Louisiana and the national median. For comparison, the zip code 71356 has both the highest and lowest median property tax rate at 0.98%. Understanding how these areas compare with Morrow provides valuable insights into the varying tax landscape across Avoyelles, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morrow Tax Rate
0.98%
Average Avoyelles County Tax Rate
0.83%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morrow, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71356 | 0.98% | 0.98% | 0.98% | 0.98% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Morrow, Louisiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Morrow, Louisiana. 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 Morrow, 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 Morrow 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 of $394.00 is 71356, while the lowest median tax bill is also $394.00 in the same zip code.
Average Morrow Assessed Value
$45,750
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 Morrow, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71356 | $8,900 | $28,875 | $45,750 | $81,200 | $96,850 |
Source: Ownwell
Property Tax Bills Across Morrow, Louisiana
In Morrow, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is a percentage of the market value, which is determined by the local assessor's office. Various factors such as the home's location, size, and condition can influence this valuation. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For example, with a median home price of $45,750 in Morrow, homeowners can expect different tax bills depending on their property's assessed value. The 25th percentile tax bill is around $276, while the 75th percentile reaches up to $732. The 90th percentile tax bill can be as high as $953. These property taxes fund essential services like schools, police, and infrastructure, directly affecting the quality of life in the community. While the national median property tax rate is 0.99%, local rates can vary, making it crucial for homeowners to understand their specific obligations.
Average Morrow Tax Bill
$394
Average Avoyelles County Tax Bill
$436
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Morrow, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71356 | $88 | $276 | $394 | $732 | $953 |
Source: Ownwell