Collinston, Louisiana Property Taxes
The median property tax rate in Collinston, LA is 1.04%, slightly above both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Collinston being $43,800, the typical annual property tax bill amounts to $522, which is significantly lower than the national median of $2,690. Property taxes in Collinston are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Collinston'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 Collinston or another part of Morehouse Parish, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Collinston, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$456
Ownwell’s Collinston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collinston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collinston 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 Collinston, Louisiana
Property taxes in Collinston, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collinston is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within Collinston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collinston 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 Collinston's effective property tax rate to other areas and the national median. For comparison, the zip code 71229 has both the highest and lowest median property tax rate of 1.04%. Understanding how these areas compare with Collinston provides valuable insights into the varying tax landscape across Morehouse Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collinston Tax Rate
1.04%
Average Morehouse County Tax Rate
1.19%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collinston, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71229 | 0.97% | 1.02% | 1.04% | 1.10% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Collinston, Louisiana
In Collinston, 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 Morehouse 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 Collinston, 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 Collinston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Collinston, the zip code 71229 has both the highest and lowest median tax bill, which is $522.
Average Collinston Assessed Value
$43,800
Average Morehouse County Assessed Value
$47,417
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Collinston, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71229 | $7,517 | $18,165 | $43,800 | $97,076 | $181,251 |
Source: Ownwell
Property Tax Bills Across Collinston, Louisiana
In Collinston, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in Morehouse County, where Collinston is located, see property tax bills that vary significantly depending on their property's assessed value. For instance, the 25th percentile tax bill is $243, while the 75th percentile tax bill reaches $1,036, and the 90th percentile tax bill can go up to $1,808. The median home price in Collinston is $43,800, which influences the overall tax burden. The tax bill is determined by multiplying the assessed value by the local tax rate. Various factors, such as property improvements, market trends, and local government budgets, also play a role in determining the final tax amount. For homeowners, understanding these factors is crucial as they directly impact annual property tax obligations. Compared to the national median property tax rate of 0.99%, Collinston's property tax rates can offer a more affordable option for residents, depending on individual property assessments.
Average Collinston Tax Bill
$522
Average Morehouse County Tax Bill
$587
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Collinston, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71229 | $85 | $243 | $522 | $1,036 | $1,808 |
Source: Ownwell