Springfield, Louisiana Property Taxes
The median property tax rate in Springfield, LA is 0.88%, slightly below both the national median of 0.99% and the Louisiana state median of 0.91%. With a median home value of $85,200 in Springfield, the typical annual property tax bill is $764, which is considerably lower than the national median of $2,690. Property taxes in Springfield 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 Springfield'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 Springfield or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Springfield, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$750
$696
Ownwell’s Springfield Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Springfield to provide an estimate of your property tax bill. This insightful tool is designed to help you understand potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Springfield, Louisiana
Property taxes in Springfield, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springfield is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springfield 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 Springfield's effective property tax rate to other areas in Livingston County and the national median. For comparison, the zip code 70462 has both the highest and lowest median property tax rate in the county, which stands at 0.88%. Understanding how these cities compare with Springfield provides valuable insights into the varying tax landscape across Livingston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Springfield 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 Springfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70462 | 0.88% | 0.88% | 0.88% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, Louisiana
In Springfield, 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 County Appraisal District 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 Springfield, 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. The median home price in Springfield is $85,200, with the 25th percentile tax bill at $390 and the 75th percentile at $1,511. The highest and lowest median tax bills are both $764 in the 70462 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Springfield Assessed Value
$85,200
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 Springfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70462 | $23,800 | $43,800 | $85,200 | $163,325 | $250,550 |
Source: Ownwell
Property Tax Bills Across Springfield, Louisiana
In Springfield, located in Livingston Parish, LA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Springfield is $85,200. Tax bills are influenced by various factors, including property size, location, and improvements. These elements are assessed to determine the taxable value, which is then multiplied by the local tax rate to calculate the annual tax bill. For Springfield homeowners, property tax bills can vary significantly. The 25th percentile tax bill is around $390, while those in the 75th percentile pay approximately $1,511. At the 90th percentile, tax bills can reach up to $2,448. Comparatively, the national median property tax rate is 0.99%, which helps to put Springfield's rates into perspective. The impact on homeowners can be substantial, influencing decisions on property purchases, home improvements, and long-term financial planning. Understanding these factors is crucial for effectively managing property tax obligations.
Average Springfield Tax Bill
$764
Average Livingston County Tax Bill
$1,385
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70462 | $215 | $390 | $764 | $1,511 | $2,448 |
Source: Ownwell