Tallulah, Louisiana Property Taxes
The median property tax rate in Tallulah, LA is 1.39%, significantly higher than both the national median of 0.99% and Louisiana's state median of 0.91%. With a median home value of $36,300 in Tallulah, the typical annual property tax bill amounts to $483, which is considerably lower than the national median of $2,690. Property taxes in Tallulah are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Tallulah'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 Tallulah or another part of Madison Parish, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tallulah, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$505
Ownwell’s Tallulah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tallulah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tallulah 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 Madison County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Tallulah, Louisiana
Property taxes in Tallulah, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tallulah is 0.53%, lower than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Tallulah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tallulah 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 Tallulah's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71282 zip code has both the highest and lowest median property tax rates of 0.53%. Understanding how these cities compare with Tallulah provides valuable insights into the varying tax landscape across Madison, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tallulah Tax Rate
1.39%
Average Madison County Tax Rate
1.39%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tallulah, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71282 | 1.10% | 1.10% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Tallulah, Louisiana
In Tallulah, 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 Madison County 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 Tallulah, 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 Tallulah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $483 in the 71282 zip code, which is also the lowest median tax bill.
Average Tallulah Assessed Value
$36,300
Average Madison County Assessed Value
$38,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tallulah, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71282 | $15,000 | $23,500 | $36,300 | $63,100 | $122,242 |
Source: Ownwell
Property Tax Bills Across Tallulah, Louisiana
In Tallulah, located in Madison County, LA, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $36,300, property tax bills can vary significantly. Homeowners in the 25th percentile pay around $311 annually, while those in the 75th percentile see bills closer to $804. At the 90th percentile, the tax bill can reach up to $1,494. These tax bills are influenced by factors such as property location, market conditions, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Tallulah's rates offer a relatively affordable option for homeowners. Understanding these factors helps residents anticipate their financial obligations and manage their budgets more effectively.
Average Tallulah Tax Bill
$483
Average Madison County Tax Bill
$491
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Tallulah, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71282 | $203 | $311 | $483 | $804 | $1,494 |
Source: Ownwell