Covington, Louisiana Property Taxes
The median property tax rate in Covington, LA is 0.97%, which is just below the national median of 0.99% but above the Louisiana state median of 0.91%. With a median home value of $73,118 in Covington, the typical annual property tax bill amounts to $710, significantly lower than the national median of $2,690. Property taxes in Covington are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Covington's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Covington or another part of the city, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Covington, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$709
$658
Ownwell’s Covington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Covington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Covington 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 Covington, Louisiana
Property taxes in Covington, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Covington is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Covington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Covington 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 Covington's effective property tax rate to other areas in Louisiana and the national median. For comparison, the 70435 zip code in Tangipahoa Parish has a median property tax rate of 0.97%, which is consistent with Covington's rate. Understanding how these areas compare with Covington provides valuable insights into the varying tax landscape across Tangipahoa Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Covington Tax Rate
0.97%
Average Tangipahoa County Tax Rate
0.87%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Covington, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70435 | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Covington, Louisiana
In Covington, 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 Tangipahoa 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 Covington, 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 Covington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Covington, the median home price stands at $73,118. Zip code 70435 has the highest and lowest median tax bills, each at $710. The 25th percentile tax bill is $555, while the 75th percentile is $945, and the 90th percentile reaches $1,348.
Average Covington Assessed Value
$73,118
Average Tangipahoa County Assessed Value
$100,451
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Covington, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70435 | $16,900 | $57,086 | $73,118 | $97,326 | $138,833 |
Source: Ownwell
Property Tax Bills Across Covington, Louisiana
In Covington, located in Tangipahoa County, LA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Covington is $73,118. The assessed value is then multiplied by the local property tax rate to determine the tax bill. Factors such as property improvements, market conditions, and neighborhood changes can influence the assessed value, impacting the overall tax amount. For homeowners in Covington, property tax bills can vary significantly. The 25th percentile tax bill is $555, while the 75th percentile tax bill is $945. At the higher end, the 90th percentile tax bill reaches $1,348. The highest and lowest median tax bills in the area are both $710, found in the 70435 zip code. Compared to the national median property tax rate of 0.99%, Covington's rates can offer some financial relief, but homeowners should stay informed about fluctuations in assessed values and tax rates to manage their expenses effectively.
Average Covington Tax Bill
$710
Average Tangipahoa County Tax Bill
$889
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Covington, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70435 | $164 | $555 | $710 | $945 | $1,348 |
Source: Ownwell