Rayne, Louisiana Property Taxes
The median property tax rate in Rayne, LA is 0.53%, significantly lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With a median home value of $157,795 in Rayne, the typical annual property tax bill amounts to $789, well below the national median of $2,690. Property taxes in Rayne 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 Rayne'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 Rayne 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
Rayne, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$836
$776
Ownwell’s Rayne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rayne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rayne 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 Rayne, Louisiana
Property taxes in Rayne, Louisiana, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Rayne is 0.53%, which is notably lower than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Rayne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rayne 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 Rayne's effective property tax rate to other areas in Louisiana and the national median. For comparison, the zip code 70578 has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Rayne 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 Rayne Tax Rate
0.53%
Average Lafayette County Tax Rate
0.73%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rayne, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70578 | 0.38% | 0.46% | 0.53% | 0.88% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Rayne, Louisiana
In Rayne, 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 Lafayette 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 Rayne, 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 Rayne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rayne is $157,795, with the highest and lowest median tax bills both at $789 in the 70578 zip code.
Average Rayne Assessed Value
$157,795
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 Rayne, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70578 | $43,392 | $96,470 | $157,795 | $181,600 | $227,775 |
Source: Ownwell
Property Tax Bills Across Rayne, Louisiana
In Rayne, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. For homeowners in Rayne, the median home price is $157,795. Property tax bills can vary significantly, with the 25th percentile at $512 and the 75th percentile at $1,137. At the 90th percentile, homeowners might see tax bills as high as $1,586. The highest and lowest median tax bills in the area are both reported at $789, which is below the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, roads, and emergency services, directly impacting the quality of life in Rayne. Understanding how these factors contribute to property tax bills helps homeowners budget and plan accordingly.
Average Rayne Tax Bill
$789
Average Lafayette County Tax Bill
$1,014
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Rayne, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70578 | $241 | $512 | $789 | $1,137 | $1,586 |
Source: Ownwell