Folsom, Tangipahoa County, Louisiana Property Taxes
The median property tax rate in Folsom, LA is 0.77%, 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 Folsom at $106,286, the typical annual property tax bill is around $811, significantly less than the national median of $2,690. Property taxes in Folsom are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Folsom'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 Folsom or another part of Tangipahoa County, gaining knowledge of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Folsom, Tangipahoa County, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$818
$759
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, Tangipahoa County, Louisiana
Property taxes in Folsom, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Folsom is 0.77%, notably lower than 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 and the national median. For comparison, the zip code 70437 has both the highest and lowest median property tax rate of 0.77%, making it consistent across the board. Understanding how these figures compare with Folsom 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 Folsom Tax Rate
0.77%
Average Tangipahoa County Tax Rate
0.87%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Folsom, Tangipahoa County, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70437 | 0.72% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Folsom, Tangipahoa County, 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 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 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. 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 Folsom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Folsom, the highest median tax bill is $811 in the 70437 zip code, while the lowest median tax bill is also $811 in the same zip code.
Property Tax Assessment Values Across Folsom, Tangipahoa County, Louisiana
Source: Ownwell
$16,500
$74,819
$133,138
Average Folsom Assessed Value
$106,286
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 Folsom, Tangipahoa County, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70437 | $21,235 | $52,478 | $106,286 | $210,518 | $311,761 |
Source: Ownwell
Property Tax Bills Across Folsom, Tangipahoa County, Louisiana
In Folsom, LA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local property tax rate is then applied to this assessed value to determine the tax bill. Various factors influence the assessed value, including the home's size, location, and condition. For instance, the median home price in Folsom is $106,286. Homeowners in Folsom can expect property tax bills that vary significantly. The tax bill at the 25th percentile is $396, while at the 75th percentile, it rises to $1623, and at the 90th percentile, it reaches $2404. These figures highlight the range of tax burdens homeowners may face, depending on their property's value and other assessed factors. Compared to the national median property tax rate of 0.99%, Folsom's rates reflect the local economic conditions and property values. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Folsom Tax Bill
$811
Average Tangipahoa County Tax Bill
$889
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Folsom, Tangipahoa County, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70437 | $161 | $396 | $811 | $1,623 | $2,404 |
Source: Ownwell