Albany, Livingston County, Louisiana Property Taxes
The median property tax rate in Albany, Louisiana is 0.88%, lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Albany at $93,700, the typical annual property tax bill is $842, well below the national median of $2,690. Property taxes in Albany are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Albany'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 Albany 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
Albany, Livingston County, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$825
$765
Ownwell’s Albany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Albany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albany 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 Albany, Livingston County, Louisiana
Property taxes in Albany, Louisiana, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Albany is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities in Albany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albany 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 Albany's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 70711 zip code has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Albany provides valuable insights into the varying tax landscape across Livingston Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albany Tax Rate
0.88%
Average Livingston County Tax Rate
1.18%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albany, Livingston County, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70711 | 0.88% | 0.88% | 0.88% | 0.88% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Albany, Livingston County, Louisiana
In Albany, 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 Livingston 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 Albany, 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 Albany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Albany is $842.00 in zip code 70711, while the lowest is also $842.00 in the same zip code.
Property Tax Assessment Values Across Albany, Livingston County, Louisiana
Source: Ownwell
$57,000
$100,100
$143,200
Average Albany Assessed Value
$93,700
Average Livingston County Assessed Value
$123,300
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albany, Livingston County, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70711 | $24,700 | $46,200 | $93,700 | $146,500 | $193,400 |
Source: Ownwell
Property Tax Bills Across Albany, Livingston County, Louisiana
Property tax bills in Albany, Livingston Parish, LA, are calculated based on the assessed value of the property. The assessed value is a percentage of the property's market value, which is determined by the local assessor's office. Various factors such as property size, location, and market conditions influence the assessed value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Albany, the median home price is $93,700. Property tax bills can vary significantly, with the 25th percentile at $417 and the 75th percentile reaching $1,312. The 90th percentile tax bill is $1,710, highlighting the range of potential tax burdens. Compared to the national median property tax rate of 0.99%, Albany's property tax rates can have a notable impact on homeowners, affecting their annual financial planning. Understanding how these factors interplay helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Albany Tax Bill
$842
Average Livingston County Tax Bill
$1,385
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Albany, Livingston County, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70711 | $221 | $417 | $842 | $1,312 | $1,710 |
Source: Ownwell