Simpson, Louisiana Property Taxes
The median property tax rate in Simpson, LA is 1.19%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Simpson at $54,200, the typical annual property tax bill reaches $646, which is significantly lower than the national median of $2,690. Property taxes in Simpson are calculated based on the tax assessed value, typically falling below market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Simpson'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 Simpson or another part of Vernon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Simpson, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$645
$599
Ownwell’s Simpson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Simpson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Simpson 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 Simpson, Louisiana
Property taxes in Simpson, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Simpson is 1.19%, significantly higher than the U.S. national median of 0.99%. Local government entities within Simpson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Simpson 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 Simpson's effective property tax rate to other areas in Louisiana and the national median. For comparison, the zip code 71474 has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these areas compare with Simpson provides valuable insights into the varying tax landscape across Vernon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Simpson Tax Rate
1.19%
Average Vernon County Tax Rate
1.19%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Simpson, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71474 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Simpson, Louisiana
In Simpson, 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 Vernon County 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 Simpson, 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 Simpson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 71474 has the highest and lowest median tax bill at $646.
Average Simpson Assessed Value
$54,200
Average Vernon County Assessed Value
$52,900
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Simpson, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71474 | $13,000 | $26,350 | $54,200 | $81,200 | $141,000 |
Source: Ownwell
Property Tax Bills Across Simpson, Louisiana
In Simpson, located in Vernon County, LA, property tax bills are calculated based on the assessed value of a home. This assessed value is a percentage of the market value, determined by the local tax assessor. For example, with a median home price of $54,200, the tax bill varies significantly across different percentiles. At the 25th percentile, homeowners can expect to pay around $314 annually, while those at the 75th percentile face a tax bill of approximately $968. The top 10% of homeowners, based on property value, may see tax bills reaching up to $1,680. These tax bills are influenced by various factors, including the property's location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Simpson's rates reflect the unique economic conditions and property values of the area. Homeowners in Simpson should be aware of these factors as they can significantly impact their annual financial obligations, making it essential to stay informed and proactive about potential property tax appeals or exemptions.
Average Simpson Tax Bill
$646
Average Vernon County Tax Bill
$626
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Simpson, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71474 | $155 | $314 | $646 | $968 | $1,680 |
Source: Ownwell