Madisonville, Louisiana Property Taxes
The median property tax rate in Madisonville, LA is 0.96%, 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 Madisonville at $244,490, the typical annual property tax bill is $2,452, which is below the national median of $2,690. Property taxes in Madisonville are calculated based on the tax assessed value, typically lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Madisonville'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 Madisonville 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
Madisonville, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,347
Ownwell’s Madisonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madisonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madisonville 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 Madisonville, Louisiana
Property taxes in Madisonville, Louisiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madisonville is 0.96%, lower than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Madisonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madisonville 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 Madisonville's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 70447 zip code has both the highest and the lowest median property tax rate of 0.96%. Understanding how these cities compare with Madisonville 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 Madisonville Tax Rate
0.96%
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 Madisonville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70447 | 0.76% | 0.86% | 0.96% | 1.17% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Madisonville, Louisiana
In Madisonville, 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 Madisonville, 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 Madisonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Madisonville is $244,490, with the 25th percentile tax bill at $1,751 and the 75th percentile at $3,593. The highest median tax bill is $2,452, found in the zip code 70447, which also has the lowest median tax bill at the same value.
Average Madisonville Assessed Value
$244,490
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 Madisonville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70447 | $108,618 | $190,125 | $244,490 | $334,265 | $445,502 |
Source: Ownwell
Property Tax Bills Across Madisonville, Louisiana
In Madisonville, LA, property tax bills are calculated based on the assessed value of a home, which is determined by the St. Tammany County Assessor. This assessed value is a percentage of the market value of the property. Homeowners in Madisonville typically face a median home price of $244,490. The tax bill is then derived by applying the local property tax rate to this assessed value. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, tax bills in Madisonville range widely, with the 25th percentile at $1,751 and the 75th percentile at $3,593. The 90th percentile tax bill can reach up to $5,384. Compared to the national median property tax rate of 0.99%, Madisonville's tax rates can significantly impact homeowners. Those in the zip code 70447 experience a median tax bill of $2,452. This variation underscores the importance of understanding local tax assessments and potential exemptions to manage property tax liabilities effectively.
Average Madisonville Tax Bill
$2,452
Average St. Tammany County Tax Bill
$1,777
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Madisonville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70447 | $1,146 | $1,751 | $2,452 | $3,593 | $5,384 |
Source: Ownwell