Springfield, Louisiana Property Taxes
The median property tax rate in Springfield, LA is 1.06%, higher than both the national median of 0.99% and Louisiana's state median of 0.91%. With the median home value in Springfield at $99,684, the typical annual property tax bill reaches $1,058, exceeding the national median of $2,690. Property taxes in Springfield are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Springfield'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 Springfield 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
Springfield, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,057
$981
Ownwell’s Springfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springfield 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 Springfield, Louisiana
Property taxes in Springfield, Louisiana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springfield is 1.06%, higher than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springfield 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 Springfield's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 70462 zip code has the highest median property tax rate of 1.06%, while the 70462 zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Springfield provides valuable insights into the varying tax landscape across Tangipahoa, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Springfield Tax Rate
1.06%
Average Tangipahoa County Tax Rate
0.87%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70462 | 1.06% | 1.06% | 1.06% | 1.06% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, Louisiana
In Springfield, 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 Springfield, 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 Springfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Springfield is $99,684, with tax bills ranging from $707 at the 25th percentile to $1,944 at the 90th percentile. Notably, the highest and lowest median tax bills are both $1,058 in the 70462 zip code.
Average Springfield Assessed Value
$99,684
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 Springfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70462 | $19,250 | $66,646 | $99,684 | $143,312 | $183,237 |
Source: Ownwell
Property Tax Bills Across Springfield, Louisiana
In Springfield, Tangipahoa County, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The median home price in Springfield is $99,684. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, improvements, and exemptions can influence the assessed value. For instance, the 25th percentile tax bill in Springfield is $707, while the 75th percentile tax bill is $1,522, and the 90th percentile tax bill reaches $1,944. These property taxes fund essential services like public schools, infrastructure, and emergency services. Homeowners in Springfield should be aware that their property tax bill may vary significantly depending on their property's assessed value and eligible exemptions. Compared to the national median property tax rate of 0.99%, Springfield's tax rates can be considered relatively moderate, ensuring that homeowners contribute fairly to the community's upkeep while managing their financial responsibilities.
Average Springfield Tax Bill
$1,058
Average Tangipahoa County Tax Bill
$889
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70462 | $196 | $707 | $1,058 | $1,522 | $1,944 |
Source: Ownwell