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Can someone explain to me how property taxes are determined?
Posted on 10/23/23 at 1:54 am
Posted on 10/23/23 at 1:54 am
Comparing the dozen or so houses around me in Tangi parish, the property taxes this year range from $100 all the way to $3500. Makes zero sense.
5
Posted on 10/23/23 at 7:36 am to indytiger
Well the tax assessor is an elected politician , so there is that?
Are they recently developed properties? If so it takes a year for them to catch up from raw land /lot, to a completed house?
Are they recently developed properties? If so it takes a year for them to catch up from raw land /lot, to a completed house?
Posted on 10/23/23 at 7:50 am to indytiger
Call the assessor and ask them questions.
My tax assessment tells me to do so. So I do.
My tax assessment tells me to do so. So I do.
Posted on 10/23/23 at 7:52 am to indytiger
Property taxes are a function of millage and assessed value. Unless there are breaks of some kind (say for being over 65 or something like that) millage should be the same for everyone. Differences are usually the result of assessed value.
Posted on 10/23/23 at 7:54 am to indytiger
Don't know about Louisiana since I live in Georgia.
But in my county, we have homestead exemptions that cap the rate that property tax can increase after purchasing property. I.e. if you bought a house in 2017 but property values exploded after 2020, there's a limit to how much property tax can be assessed for new fair market values vs what you purchased it for.
Additionally we have exemptions for seniors. I have a few elderly neighbors that have over 800k houses but are payingna few hundred in property tax.
I would assume Louisiana may have some similar exemptions? Being at least part of the reason thentwxes are different
But in my county, we have homestead exemptions that cap the rate that property tax can increase after purchasing property. I.e. if you bought a house in 2017 but property values exploded after 2020, there's a limit to how much property tax can be assessed for new fair market values vs what you purchased it for.
Additionally we have exemptions for seniors. I have a few elderly neighbors that have over 800k houses but are payingna few hundred in property tax.
I would assume Louisiana may have some similar exemptions? Being at least part of the reason thentwxes are different
Posted on 10/23/23 at 8:18 am to Tigerpaw123
quote:
elected politician
Lafayette just elected a tax assessor whose view is "The taxes you pay on your property need to be an investment, not a cost"
i guess we'll see.
Posted on 10/23/23 at 10:18 am to indytiger
Compare the assessed property values. The millage rate should be the same for all of those properties, but the assessed value varying will mean differing tax amounts.
You also have homestead exemption that reduces the tax bill by exempting the first $75k in assessed value from being taxed as long as its the owner's primary residence.
If you live in a subdivision, assessed values probably won't vary too drastically. But if you live where one neighbor has a mobile home on an acre of land and another neighbor has a 3000 sf custom home on 6 acres, you'll see some big fluctuations in assessment values.
You also have homestead exemption that reduces the tax bill by exempting the first $75k in assessed value from being taxed as long as its the owner's primary residence.
If you live in a subdivision, assessed values probably won't vary too drastically. But if you live where one neighbor has a mobile home on an acre of land and another neighbor has a 3000 sf custom home on 6 acres, you'll see some big fluctuations in assessment values.
Posted on 10/24/23 at 1:57 pm to Tiger Prawn
Idk about that. Where we live (vermilion parish) our old neighborhood varied greatly in assessments. Homes weren’t regularly reassessed. But sell or refinance your home and it was reassessed as it triggered a change along the way and typically meant higher taxes.
Posted on 10/24/23 at 2:42 pm to Puffoluffagus
quote:
Additionally we have exemptions for seniors. I have a few elderly neighbors that have over 800k houses but are payingna few hundred in property tax.
I would assume Louisiana may have some similar exemptions?
As far as I know, in Louisiana once you hit a certain age (65 or so) your property tax freezes. Meaning you still pay the full amount, but it will not increase.
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