Folsom, Louisiana Property Taxes
The median property tax rate in Folsom, LA is 0.95%, slightly lower than the national median of 0.99% but higher than the Louisiana state median of 0.91%. With the median home value in Folsom at $155,600, the typical annual property tax bill is approximately $1,599, which is below the national median of $2,690. Property taxes in Folsom 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 Folsom'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 Folsom 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
Folsom, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,478
Ownwell’s Folsom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Folsom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Folsom 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 Folsom, Louisiana
Property taxes in Folsom, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Folsom is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Folsom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Folsom 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 Folsom's effective property tax rate to other areas in Louisiana and the national median. For comparison, the 70437 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these areas compare with Folsom provides valuable insights into the varying tax landscape across St. Tammany Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Folsom Tax Rate
0.95%
Average St. Tammany County Tax Rate
0.98%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Folsom, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70437 | 0.43% | 0.71% | 0.95% | 1.39% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Folsom, Louisiana
In Folsom, 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 St. Tammany Parish 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 Folsom, 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. For example, the median home price in Folsom is $155,600, with tax bills ranging from $806 at the 25th percentile to $3,990 at the 90th percentile. The zip code 70437 has both the highest and lowest median tax bill at $1,599. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Folsom Assessed Value
$155,600
Average St. Tammany County Assessed Value
$172,720
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Folsom, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70437 | $49,310 | $87,690 | $155,600 | $231,330 | $321,710 |
Source: Ownwell
Property Tax Bills Across Folsom, Louisiana
In Folsom, LA, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The tax rate is then applied to this assessed value to determine the actual tax bill. Factors such as local tax rates and any applicable exemptions or deductions play a significant role in this calculation. For example, in St. Tammany County, where Folsom is located, the median home price is $155,600. Homeowners in the 25th percentile of tax bills pay around $806, while those in the 75th percentile pay approximately $2,612. The 90th percentile sees tax bills as high as $3,990. These property taxes fund essential local services like schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, understanding these figures helps homeowners anticipate their financial responsibilities and plan accordingly. With the highest and lowest median tax bills both at $1,599 in zip code 70437, homeowners in Folsom can expect relatively consistent property tax obligations.
Average Folsom Tax Bill
$1,599
Average St. Tammany County Tax Bill
$1,777
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Folsom, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70437 | $383 | $806 | $1,599 | $2,612 | $3,990 |
Source: Ownwell