Montgomery, Louisiana Property Taxes
The median property tax rate in Montgomery, LA is 0.79%, 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 Montgomery at $39,355, the typical annual property tax bill is $310, significantly below the national median of $2,690. Property taxes in Montgomery 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 Montgomery'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 Montgomery 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
Montgomery, Louisiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,820
Ownwell’s Montgomery Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Montgomery with just two key data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montgomery to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, offering clarity and foresight. For those interested in more granular trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Montgomery, Louisiana
Property taxes in Montgomery, Louisiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Montgomery is 0.79%, which is lower than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Montgomery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montgomery 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 Montgomery's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71454 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Montgomery provides valuable insights into the varying tax landscape across Winn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montgomery Tax Rate
0.79%
Average Winn County Tax Rate
0.79%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71454 | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery, Louisiana
In Montgomery, 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 Winn 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 Montgomery, 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 Montgomery helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 71454, with a median bill of $310, while the same zip code also has the lowest median tax bill at $310.
Average Montgomery Assessed Value
$39,355
Average Winn County Assessed Value
$36,260
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montgomery, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71454 | $7,000 | $17,975 | $39,355 | $73,842 | $93,328 |
Source: Ownwell
Property Tax Bills Across Montgomery, Louisiana
In Montgomery, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the applicable tax rate to compute the annual tax bill. Several factors influence the assessed value, including the property's market value, age, location, and any improvements or renovations made. For homeowners in Montgomery, the median home price is $39,355, and the tax bill varies significantly across different percentiles. At the 25th percentile, homeowners can expect to pay around $142 annually, while those in the 75th percentile face a tax bill of approximately $581. The 90th percentile tax bill climbs to about $737. Comparing these figures to the national median property tax rate of 0.99%, Montgomery's property taxes are relatively modest. However, any changes in assessed value or tax rates can significantly impact homeowners' annual expenses, making it crucial to stay informed and proactive about property tax assessments.
Average Montgomery Tax Bill
$310
Average Winn County Tax Bill
$296
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71454 | $55 | $142 | $310 | $581 | $737 |
Source: Ownwell