Broussard, Louisiana Property Taxes
The median property tax rate in Broussard, LA is 0.82%, which is lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With a median home value of $86,105 in Broussard, the typical annual property tax bill amounts to $709, significantly below the national median of $2,690. Property taxes in Broussard are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Broussard'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 Broussard 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
Broussard, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$706
Ownwell’s Broussard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Broussard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Broussard 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 Broussard, Louisiana
Property taxes in Broussard, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Broussard is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Broussard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Broussard 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. Understanding how Broussard's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Iberia Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Broussard Tax Rate
0.82%
Average Iberia County Tax Rate
0.82%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Broussard, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70518 | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Broussard, Louisiana
In Broussard, 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 Iberia 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 Broussard, 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. For instance, the zip code 70518 has the highest median tax bill at $709, while the same zip code also has the lowest median tax bill at $709. 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 Broussard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Broussard Assessed Value
$86,105
Average Iberia County Assessed Value
$68,490
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Broussard, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70518 | $3,991 | $14,732 | $86,105 | $161,490 | $203,336 |
Source: Ownwell
Property Tax Bills Across Broussard, Louisiana
In Broussard, Iberia County, LA, property tax bills are calculated based on assessed property values and the local tax rate. The assessed value is typically a percentage of the market value of the home. For example, a median home price in Broussard stands at $86,105. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $121 and the 75th percentile reaching $1,329. The highest median tax bill within the zip code 70518 is $709, illustrating a range of potential tax liabilities. Several factors influence these tax bills, including property location, local government budgets, and specific exemptions or deductions available to homeowners. These taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life in the community. Homeowners in Broussard should be aware of their property's assessed value and the local tax rate to understand their tax obligations and potential opportunities for appeals or exemptions.
Average Broussard Tax Bill
$709
Average Iberia County Tax Bill
$580
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Broussard, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70518 | $33 | $121 | $709 | $1,329 | $1,674 |
Source: Ownwell