Terrytown, Louisiana Property Taxes
The median property tax rate in Terrytown, LA is 0.64%, significantly lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Terrytown at $110,500, the typical annual property tax bill is $868, well below the national median of $2,690. Property taxes in Terrytown are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Terrytown'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 Terrytown 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
Terrytown, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$707
Ownwell’s Terrytown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Terrytown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Terrytown 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 Terrytown, Louisiana
Property taxes in Terrytown, Louisiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Terrytown is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Terrytown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Terrytown 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 Terrytown's effective property tax rate to other regions and the national median. For comparison, the zip code 70056 has both the highest and lowest median property tax rate of 0.64%, aligning perfectly with Terrytown. Understanding how these regions compare with Terrytown 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 Terrytown Tax Rate
0.64%
Average Jefferson County Tax Rate
0.83%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Terrytown, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70056 | 0.28% | 0.38% | 0.64% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Terrytown, Louisiana
In Terrytown, 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 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. In Terrytown, 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 Terrytown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 70056, both at $868.
Average Terrytown Assessed Value
$110,500
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 Terrytown, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70056 | $79,000 | $95,700 | $110,500 | $139,700 | $175,920 |
Source: Ownwell
Property Tax Bills Across Terrytown, Louisiana
In Terrytown, Jefferson County, LA, property tax bills are determined by assessing a home's value and applying the local tax rate. The median home price in Terrytown is $110,500, and the property tax rate is calculated based on this assessed value. Homeowners in this area can expect tax bills that vary significantly, with the 25th percentile tax bill at $399 and the 75th percentile tax bill at $1,337, illustrating the range of what residents might pay annually. Several factors influence the property tax bill, including the home's assessed value, any applicable exemptions, and the local tax rate. These factors combine to determine the final amount a homeowner owes. For instance, properties in the 90th percentile face tax bills as high as $1,914. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and home values can impact the financial burden on homeowners. Understanding these elements helps homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Terrytown Tax Bill
$868
Average Jefferson County Tax Bill
$1,204
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Terrytown, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70056 | $263 | $399 | $868 | $1,337 | $1,914 |
Source: Ownwell