Broussard, Louisiana Property Taxes
The median property tax rate in Broussard, LA is 0.62%, notably lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With a median home value of $192,090 in Broussard, the typical annual property tax bill is $1,147, which is significantly below the national median of $2,690. Property taxes in Broussard are calculated based on the tax assessed value, which is often lower than 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 significant annual savings. Whether you're in the heart of Broussard 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
Broussard, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,191
$1,105
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 0.62%, 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. The data below compares Broussard's effective property tax rate to other areas in Louisiana and the national median. For comparison, the 70518 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Broussard provides valuable insights into the varying tax landscape across Lafayette Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Broussard Tax Rate
0.62%
Average Lafayette County Tax Rate
0.73%
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 | 0.43% | 0.52% | 0.62% | 0.86% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Broussard, Louisiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Broussard, 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 Lafayette 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 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. 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. The median home price in Broussard is $192,090, with tax bills ranging from $670 at the 25th percentile to $2,663 at the 90th percentile. The zip code 70518 has the highest and lowest median tax bill at $1,147.
Average Broussard Assessed Value
$192,090
Average Lafayette County Assessed Value
$153,470
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 | $47,452 | $137,490 | $192,090 | $256,060 | $360,672 |
Source: Ownwell
Property Tax Bills Across Broussard, Louisiana
In Broussard, located in Lafayette County, LA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is a percentage of the property's market value. The tax rate, or millage rate, is then applied to the assessed value to calculate the annual property tax bill. For instance, with a median home price of $192,090, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. The tax bill can significantly impact homeowners, with the 25th percentile tax bill at $670 and the 75th percentile reaching $1,722. For those in the 90th percentile, the tax bill can soar to $2,663. Comparatively, the national median property tax rate is 0.99%. In Broussard, the median tax bill is consistent across the zip code 70518, standing at $1,147. These property taxes fund essential local services, including public schools, infrastructure, and emergency services, directly affecting the community's quality of life.
Average Broussard Tax Bill
$1,147
Average Lafayette County Tax Bill
$1,014
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 | $321 | $670 | $1,147 | $1,722 | $2,663 |
Source: Ownwell