Hall Summit, Louisiana Property Taxes
The median property tax rate in Hall Summit, LA is 1.06%, slightly higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Hall Summit, the typical annual property tax bill reaches $385, which is significantly lower than the national median of $2,690. Property taxes in Hall Summit 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 Hall Summit'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 Hall Summit 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
Hall Summit, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$387
Ownwell’s Hall Summit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hall Summit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hall Summit 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 Hall Summit, Louisiana
Property taxes in Hall Summit, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hall Summit is 0.12%, significantly lower than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Hall Summit set these rates annually, and they can vary across different neighborhoods. Each year, Hall Summit 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 Hall Summit's effective property tax rate to other counties in Louisiana and the national median. For comparison, the highest median property tax rate in Louisiana is found in East Baton Rouge Parish at 0.83%, while the lowest median tax rate is in St. Bernard Parish at 0.15%. Understanding how these cities compare with Hall Summit provides valuable insights into the varying tax landscape across Red River Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hall Summit Tax Rate
1.06%
Average Red River County Tax Rate
1.06%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hall Summit, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71034 | 1.06% | 1.06% | 1.06% | 1.06% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Hall Summit, Louisiana
In Hall Summit, 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 Red River 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 Hall Summit, 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 Hall Summit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $385, found in the 71034 zip code.
Average Hall Summit Assessed Value
$36,500
Average Red River County Assessed Value
$51,600
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hall Summit, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71034 | $20,600 | $26,000 | $36,500 | $72,400 | $101,900 |
Source: Ownwell
Property Tax Bills Across Hall Summit, Louisiana
In Hall Summit, located in Red River County, LA, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The median home price in Hall Summit is $36,500. Property owners can expect their tax bills to vary significantly, with the 25th percentile tax bill being $274 and the 75th percentile reaching $764. At the 90th percentile, tax bills can go up to $1,075. The property tax rate in Hall Summit is relatively low compared to the national median property tax rate of 0.99%. The highest median tax bill in the area is $385, which is consistent across the zip code 71034. Factors such as property improvements, neighborhood developments, and local government budgets can influence the assessed value, subsequently affecting the tax bill. Homeowners in Hall Summit benefit from lower property taxes, making it an attractive location for those looking to minimize their annual expenses.
Average Hall Summit Tax Bill
$385
Average Red River County Tax Bill
$549
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Hall Summit, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71034 | $217 | $274 | $385 | $764 | $1,075 |
Source: Ownwell