Hammond, Louisiana Property Taxes
The median property tax rate in Hammond, LA is 0.88%, slightly below both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Hammond at $80,950, the typical annual property tax bill is $714, which is significantly lower than the national median of $2,690. Property taxes in Hammond are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hammond'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 Hammond 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
Hammond, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$712
Ownwell’s Hammond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hammond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hammond 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 Hammond, Louisiana
Property taxes in Hammond, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hammond is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Hammond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hammond 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 Hammond's effective property tax rate to other areas in Louisiana and the national median. For comparison, the 70401 zip code has the highest median property tax rate of 0.88%, while the 70403 zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Hammond 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 Hammond 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 Hammond, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70401 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
| 70403 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Hammond, Louisiana
In Hammond, 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 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. 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. In Hammond, the median home price is $80,950, with the 25th percentile tax bill at $360 and the 75th percentile at $1,265. The highest median tax bill is $716 in the 70403 zip code, while the lowest median tax bill is $382 in the 70401 zip code. 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 Hammond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hammond Assessed Value
$80,950
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 Hammond, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70401 | $19,720 | $28,600 | $43,400 | $58,200 | $67,080 |
| 70403 | $16,680 | $40,600 | $81,050 | $143,675 | $186,750 |
Source: Ownwell
Property Tax Bills Across Hammond, Louisiana
In Hammond, located in Livingston Parish, property tax bills are calculated based on the assessed value of a home, which is determined by the parish assessor. This assessed value is a percentage of the market value of the property. For instance, with a median home price of $80,950, the tax rate is applied to the assessed value to determine the tax bill. The factors considered in this calculation include the property's location, size, and condition, as well as any applicable exemptions or deductions. Homeowners in Hammond can expect varying tax bills depending on their property's assessed value and the local tax rate. For example, the tax bill at the 25th percentile is $360, while at the 75th percentile, it rises to $1,265, and at the 90th percentile, it reaches $1,644. The highest median tax bill in the area is $716 in the 70403 zip code, whereas the lowest is $382 in the 70401 zip code. These property taxes significantly impact homeowners by influencing their annual housing costs and overall financial planning.
Average Hammond Tax Bill
$714
Average Livingston County Tax Bill
$1,385
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Hammond, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70401 | $174 | $252 | $382 | $512 | $590 |
| 70403 | $157 | $361 | $716 | $1,267 | $1,646 |
Source: Ownwell