Castor, Louisiana Property Taxes
The median property tax rate in Castor, LA is 1.16%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Castor, the typical annual property tax bill reaches $528, which is significantly lower than the national median of $2,690. Property taxes in Castor are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Castor'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 Castor or another part of Bienville County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Castor, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$514
$477
Ownwell’s Castor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castor 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 Castor, Louisiana
Property taxes in Castor, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castor is 1.16%, notably higher than the U.S. national median of 0.99%. Local government entities within Castor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castor 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 Castor's effective property tax rate to other areas and the national median. For comparison, the zip code 71016 has both the highest and lowest median property tax rate of 1.16%. Understanding how these areas compare with Castor provides valuable insights into the varying tax landscape across Bienville Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castor Tax Rate
1.16%
Average Bienville County Tax Rate
1.22%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castor, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71016 | 1.16% | 1.16% | 1.16% | 1.22% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Castor, Louisiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Castor, 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 Bienville 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 Castor, 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. For example, the median home price in Castor is $44,350, with tax bills ranging from $265 at the 25th percentile to $1,517 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Castor Assessed Value
$44,350
Average Bienville County Assessed Value
$40,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castor, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71016 | $10,798 | $20,858 | $44,350 | $75,076 | $126,564 |
Source: Ownwell
Property Tax Bills Across Castor, Louisiana
In Castor, located in Bienville County, LA, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the market value, which is influenced by factors like the home's size, location, and condition. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. For homeowners in Castor, the median home price is $44,350, which serves as a baseline for tax calculations. The tax bills can vary significantly, with the 25th percentile at $265 and the 75th percentile at $882, reflecting differences in property values and assessments. At the 90th percentile, tax bills can reach up to $1,517. Compared to the national median property tax rate of 0.99%, Castor's rates offer a unique perspective on local taxation. These tax bills directly impact homeowners by influencing their annual financial planning and overall cost of homeownership. Understanding these factors is crucial for effective property tax management in Castor.
Average Castor Tax Bill
$528
Average Bienville County Tax Bill
$492
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Castor, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71016 | $134 | $265 | $528 | $882 | $1,517 |
Source: Ownwell