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Facts & Figures - Louisiana

Property taxes for the state of Louisiana.

Taxes are assessed and collected by 64 parishes (counties) and 7 municipal districts on a local level, not through the Louisiana Department of Revenue. These actions are regulated by the Louisiana Tax Commission.

Property value is affected by several factors such as improvements, additions, and major damage, but the most common cause is fluctuation in the market. Value is assessed based on the following criteria:

  • Selling price of similar properties
  • Replacement costs
  • Maintenance and repair expenses
  • Potential earnings in rent
  • Other economic factors that can affect value (e.g. current rate of interest charged for borrowing the money)

If you don’t agree with an assessors valuation of your property, you can appeal to the Board of Review of your parish, and then to the Louisiana Tax Commission.

If you’re looking for the country’s lowest tax rates, Louisiana has them. The state’s property tax law is based on a certain proportion of the fair market value. Land and residential home improvements are taxed at 10% (commercial improvements at 15%), public service properties (excluding land) are assessed at 25%, and all other types of property are taxed at 15%. However, land used for agriculture and under timber or marsh is assessed at 10% of its “use value” (use value = [net income / capitalization rate] x 10%) rather than fair market value.

In Louisiana, a homestead exemption is provided on the first $7,500 of the value of a person’s primary residence. This means the only homes subjected to the county tax must have a market value over $75,000. To receive this exemption, you must go to your assessor’s office to apply for homestead exemption.

 

 



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