Oak Ridge, Louisiana Property Taxes
The median property tax rate in Oak Ridge, LA is 0.85%, which is lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Oak Ridge at $89,900, the typical annual property tax bill is $783, significantly below the national median of $2,690. Property taxes in Oak Ridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Oak Ridge'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 Oak Ridge 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
Oak Ridge, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$764
$709
Ownwell’s Oak Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Ridge 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 Oak Ridge, Louisiana
Property taxes in Oak Ridge, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Ridge is 0.85%, which is lower than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Oak Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Ridge 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 Oak Ridge's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71264 zip code has the highest median property tax rate of 0.85%, while the 71264 zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Oak Ridge provides valuable insights into the varying tax landscape across Richland Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oak Ridge Tax Rate
0.85%
Average Richland County Tax Rate
0.92%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Ridge, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71264 | 0.76% | 0.79% | 0.85% | 0.90% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Oak Ridge, Louisiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oak Ridge, LA. 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 Richland 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 Oak Ridge, 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 Oak Ridge is $89,900, with tax bills ranging from $528 at the 25th percentile to $2,763 at the 90th percentile. The highest and lowest median tax bills both occur in the 71264 zip code, at $783. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oak Ridge Assessed Value
$89,900
Average Richland County Assessed Value
$57,800
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oak Ridge, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71264 | $33,800 | $58,200 | $89,900 | $227,600 | $350,600 |
Source: Ownwell
Property Tax Bills Across Oak Ridge, Louisiana
In Oak Ridge, Richland County, LA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and is typically a percentage of the home's market value. For example, with a median home price of $89,900, the assessed value would be a fraction of this amount. The property tax rate for the area is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the home's location, its assessed value, and applicable exemptions. Homeowners in Oak Ridge can expect tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $528, while those at the 75th percentile reach $1,769, and at the 90th percentile, they can be as high as $2,763. These variations highlight the impact of home values and assessments on tax obligations. Comparing this to the national median property tax rate of 0.99%, homeowners in Oak Ridge experience a range of tax burdens, reflecting both the local property values and assessment practices.
Average Oak Ridge Tax Bill
$783
Average Richland County Tax Bill
$549
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Ridge, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71264 | $342 | $528 | $783 | $1,769 | $2,763 |
Source: Ownwell