Raceland, Louisiana Property Taxes
The median property tax rate in Raceland, LA is 0.70%, considerably lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Raceland, the typical annual property tax bill reaches $718, well below the national median of $2,690. Property taxes in Raceland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Raceland'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 Raceland or another part of Lafourche County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Raceland, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$613
$569
Ownwell’s Raceland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raceland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raceland 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 Raceland, Louisiana
Property taxes in Raceland, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raceland is 0.70%, which is lower than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Raceland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raceland 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 Raceland's effective property tax rate to other areas in Louisiana and the national median. For comparison, the 70394 zip code has both the highest and lowest median property tax rate of 0.70%. Understanding how these areas compare with Raceland provides valuable insights into the varying tax landscape across Lafourche Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raceland Tax Rate
0.70%
Average Lafourche County Tax Rate
0.68%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raceland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70394 | 0.18% | 0.41% | 0.70% | 1.22% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Raceland, Louisiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Raceland, 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 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 Raceland, 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 Raceland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Raceland is $87,600, with the highest and lowest median tax bills both being $718 in the zip code 70394.
Average Raceland Assessed Value
$87,600
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 Raceland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70394 | $19,500 | $50,700 | $87,600 | $145,675 | $201,200 |
Source: Ownwell
Property Tax Bills Across Raceland, Louisiana
In Raceland, located in Lafourche County, LA, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the home. Homeowners in Raceland can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $285, while at the 75th percentile, it rises to $1267, and at the 90th percentile, it can reach up to $1961. These figures indicate that property taxes in Raceland are relatively modest compared to the national median property tax rate of 0.99%. For example, the highest median tax bill in the area is $718, which is significantly lower than many other regions. These property taxes fund local services such as schools, infrastructure, and emergency services, directly affecting the quality of life for homeowners. Lower property taxes can make homeownership more affordable, potentially attracting more residents and boosting the local economy.
Average Raceland Tax Bill
$718
Average Lafourche County Tax Bill
$691
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Raceland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70394 | $101 | $285 | $718 | $1,267 | $1,961 |
Source: Ownwell