Houma, Louisiana Property Taxes
The median property tax rate in Houma, LA is 0.85%, 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 $75,300 in Houma, the typical annual property tax bill is around $742, significantly below the national median of $2,690. Property taxes in Houma are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Houma'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 Houma or another part of Lafourche Parish, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Houma, Louisiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,820
Ownwell’s Houma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Houma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Houma 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 Houma, Louisiana
Property taxes in Houma, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Houma is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Houma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Houma 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 Houma's effective property tax rate to other areas in Lafourche County and the national median. For comparison, the 70363 zip code has the highest median property tax rate of 1.35%, while the 70364 zip code has the lowest median tax rate of 0.85%. Understanding how these areas compare with Houma provides valuable insights into the varying tax landscape across Lafourche County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Houma Tax Rate
0.85%
Average Lafourche County Tax Rate
0.68%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Houma, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70360 | 1.34% | 1.34% | 1.34% | 1.34% | 1.34% |
| 70363 | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% |
| 70364 | 0.22% | 0.51% | 0.85% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Houma, Louisiana
In Houma, 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 Lafourche 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 Houma, 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 Houma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Houma is $745 in the 70364 zip code, while the lowest is $235 in the 70360 zip code.
Average Houma Assessed Value
$75,300
Average Lafourche County Assessed Value
$90,200
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Houma, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70360 | $17,600 | $17,600 | $17,600 | $17,600 | $17,600 |
| 70363 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 |
| 70364 | $15,300 | $41,000 | $75,300 | $150,200 | $215,400 |
Source: Ownwell
Property Tax Bills Across Houma, Louisiana
In Houma, located in Lafourche County, LA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Factors such as the home's location, size, and condition can influence its market value, and consequently, its assessed value. Homeowners in Houma experience a range of property tax bills. The median home price is $75,300, with tax bills varying significantly. For instance, the 25th percentile tax bill is $302, while the 75th percentile reaches $1,596. At the 90th percentile, homeowners may see tax bills as high as $2,381. The highest median tax bill in the area is $745 in the 70364 zip code, whereas the lowest is $235 in the 70360 zip code. These property tax bills can impact homeowners' budgets, making it essential for them to understand how their taxes are calculated and what factors contribute to the final amount. Comparing to the national median property tax rate of 0.99%, Houma's rates offer a diverse range of financial implications for its residents.
Average Houma Tax Bill
$742
Average Lafourche County Tax Bill
$691
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Houma, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70360 | $235 | $235 | $235 | $235 | $235 |
| 70363 | $485 | $485 | $485 | $485 | $485 |
| 70364 | $101 | $302 | $745 | $1,599 | $2,381 |
Source: Ownwell