New Orleans, Louisiana Property Taxes
The median property tax rate in New Orleans, LA is 0.84%, 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 $168,200 in New Orleans, the typical annual property tax bill is around $1,539, significantly below the national median of $2,690. Property taxes in New Orleans 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 New Orleans' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of New Orleans or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Orleans, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,413
$1,311
Ownwell’s New Orleans Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in the city. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in New Orleans to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed insights, localized trends at the neighborhood level are available further down the page. The assessed value of your property, determined by Jefferson County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across New Orleans, Louisiana
Property taxes in New Orleans, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Orleans is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within New Orleans set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Orleans 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. For comparison, the 70125 zip code has the highest median property tax rate of 1.43%, while the 70121 zip code has the lowest median tax rate of 0.84%. Understanding how these neighborhoods compare with New Orleans provides valuable insights into the varying tax landscape across Jefferson Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Orleans Tax Rate
0.84%
Average Jefferson County Tax Rate
0.83%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Orleans, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70118 | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
| 70121 | 0.38% | 0.60% | 0.84% | 1.28% | 1.28% |
| 70123 | 0.48% | 0.66% | 0.84% | 1.06% | 1.23% |
| 70124 | 0.82% | 0.90% | 1.03% | 1.15% | 1.23% |
| 70125 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across New Orleans, Louisiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in New Orleans, LA. 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 Jefferson Parish Assessor's Office 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. 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 highest median tax bill is $2,483 in zip code 70118, while the lowest is $297 in zip code 70125. 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 New Orleans helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Orleans Assessed Value
$168,200
Average Jefferson County Assessed Value
$136,500
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Orleans, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70118 | $193,800 | $193,800 | $193,800 | $193,800 | $193,800 |
| 70121 | $74,000 | $105,600 | $143,400 | $197,100 | $259,680 |
| 70123 | $95,000 | $125,800 | $191,200 | $284,800 | $411,580 |
| 70124 | $22,200 | $49,950 | $96,200 | $142,450 | $170,200 |
| 70125 | $20,800 | $20,800 | $20,800 | $20,800 | $20,800 |
Source: Ownwell
Property Tax Bills Across New Orleans, Louisiana
Property tax bills in New Orleans, Jefferson County, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. Various factors, such as property location, size, and condition, influence this valuation. The local tax rate is then applied to the assessed value to determine the annual tax bill. For example, with a median home price of $168,200, homeowners can expect a range of property tax bills. At the 25th percentile, the tax bill is around $856, while at the 75th percentile, it rises to $2,439. The 90th percentile sees a tax bill of approximately $3,757. The highest median tax bill in the area is $2,483, found in zip code 70118, while the lowest is $297 in zip code 70125. These property taxes significantly impact homeowners, affecting their overall housing costs and financial planning. Comparing this to the national median property tax rate of 0.99%, New Orleans' property taxes can vary widely, influencing the affordability and attractiveness of homeownership in the region.
Average New Orleans Tax Bill
$1,539
Average Jefferson County Tax Bill
$1,204
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across New Orleans, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70118 | $2,483 | $2,483 | $2,483 | $2,483 | $2,483 |
| 70121 | $386 | $729 | $1,340 | $1,964 | $2,828 |
| 70123 | $498 | $933 | $1,658 | $2,696 | $4,197 |
| 70124 | $188 | $400 | $752 | $1,104 | $1,316 |
| 70125 | $297 | $297 | $297 | $297 | $297 |
Source: Ownwell