Ferriday, Louisiana Property Taxes
The median property tax rate in Ferriday, LA is 1.30%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Ferriday at $12,000, the typical annual property tax bill reaches $155, which is significantly lower than the national median of $2,690. Property taxes in Ferriday are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ferriday'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 Ferriday or another part of Tensas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ferriday, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$156
$145
Ownwell’s Ferriday Property Tax Bill Calculator helps homeowners, real estate investors, and potential buyers estimate their annual property taxes in Ferriday with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferriday 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 Ferriday, Louisiana
Property taxes in Ferriday, Louisiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferriday is 0.51%, significantly lower than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Ferriday set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferriday 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 Ferriday's effective property tax rate to other regions in Louisiana and the national median. For comparison, the 71334 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Ferriday provides valuable insights into the varying tax landscape across Tensas Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ferriday Tax Rate
1.30%
Average Tensas County Tax Rate
1.24%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferriday, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71334 | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Ferriday, Louisiana
In Ferriday, 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 local appraisal district 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 Ferriday, 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 Ferriday helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ferriday are both $155, specifically in the 71334 zip code.
Average Ferriday Assessed Value
$12,000
Average Tensas County Assessed Value
$33,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ferriday, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71334 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 |
Source: Ownwell
Property Tax Bills Across Ferriday, Louisiana
In Ferriday, located in Tensas Parish, LA, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value, which is determined by local tax assessors. For homeowners in Ferriday, the median home price is $12,000. Property tax rates are applied to this assessed value to determine your annual tax bill. In Ferriday, the tax bill remains consistent across different percentiles, with the 25th, 75th, and 90th percentiles all seeing a tax bill of $155. This uniformity simplifies financial planning for homeowners, ensuring predictable annual expenses. Compared to the national median property tax rate of 0.99%, Ferriday’s tax rate results in relatively lower tax bills, making it an attractive area for property ownership. Understanding how these factors interact helps homeowners in Ferriday anticipate their tax obligations and manage their finances more effectively.
Average Ferriday Tax Bill
$155
Average Tensas County Tax Bill
$271
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferriday, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71334 | $155 | $155 | $155 | $155 | $155 |
Source: Ownwell