New Orleans is such a unique place in so many ways and our Property Taxes areNOexception to this rule!!! All surrounding parishesproperty taxes(Jefferson Parish,St. Bernard Parish,St. Tammany Parish& so on) are paid in arrears, meaning that they are paid at the end of the current tax year. InOrleans Parish, which makes up the entire City of New Orleans, property taxes are billed at the end of the year in December for the upcoming year – essentially, you are pre-paying your taxes.
What do I need to know about property taxes in New Orleans?
1. In Orleans Parish, we use millage rates and these rates change yearly. The millage rate is a multiplier that is used times the assessment value to determine a Homeowner's property tax. When the end of the year approaches, theCity's Budgetis reviewed and a newmillage rateis determined. Anexact property tax amount can be determined, but it is subject to change because the homestead exemption does apply to the millages for fire and police protection,special neighborhood assessment districts, senior exemptions and other variables that may change your actual tax bill.So, even if your home is valued atLESS THAN$75,000, you will still have to pay a small amount of property taxes.If you areconsidering buying a property in New Orleansor any place else for that matter, you should factor tax increases into your monthly budget so that you don't get in over your head.
2.Owner occupants are allowed to file for a homestead exemption for their primary residence inNew Orleans.Homestead exemptions are limited to one per household. TheHomestead Exemption in Orleans Parish makes the first $75,000 of the property value exempt from property taxes on 2 conditions:
3. There is a tax estimator on the Assessor’s website. This site uses the “total assessed value” and then you can click the “homestead exemption” box if it applies. Your property assessment will be 10% of the price you paid for your house. You can find thetax estimatoron the Assessor’s website.
How to properly calculate your New Orleans Property Taxes - The Long Math Equation behind your Property Taxes!
Millage Rates:Orleans Parish (2015), Jefferson Parish & St. Tammany Parish (2014- Remember! These Parishes pay in arrears)
If you have any questions at all, please call me at 504.382.3724!
Talk soon! Alicia :)
Author:Jeff Craig Phone: 504-352-6190 Dated: January 22nd 2015 Views: 1,768 About Jeff: SELLING? Our Team of Experts will work closely with you, listening to all your needs. For each of ou...
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About Keller Williams Realty | The Craig Group 504.382.3724
ABOUT KELLER WILLIAMS REALTY NEW ORLEANS
8601 LEAKE AVE. NEW ORLEANS, LA 70118
Since Keller Williams Realty New Orleans (KWRNO) opened its doors in November 1998, the office has grown to over 100 licensed real estate agents and brokers. This remarkable growth is a product of a company whose business philosophy and model combine to attract real estate agents looking for the most professional and supportive business atmosphere available.
At the end of 2012, the Market Share Report compiled from Multiple Listing Service (MLS)® ranked Keller-Williams Realty New Orleans #1 in market share of any single office in Orleans Parish. With sales totaling over $172,900,000 in 2012, KWRNO is effectively positioned as the largest and most successful single real estate office in terms of buying and selling residential real estate in the New Orleans area.
SELLING? Our Team of Experts will work closely with you, listening to all your needs. For each of our clients, we extensively research the market to come up with the best selling price and marketing strategy to insure that your home is listed at the proper price to sell in a timely fashion. We are highly motivated and organized people putting your best interest as our TOP priority.
BUYING? We would LOVE to assist you in finding your “dream home.” We pay excellent attention to your housing needs as we search for the perfect home for you. We know the area well and will give you insight on what might work best for your family and personal interests. We will devote our time to help you and your family find your dream home as if we were looking for our own. There are so many lovely homes in the New Orleans Metro & Northshore Areas, Our Team is sure they can find the perfect one for you within your price range!
We would be honored to earn your trust and help you find your own place to call HOME!
Buying or selling a home is one of the biggest financial decisions you will probably ever have to make. Having the right real estate agent by your side representing you is very crucial to having a successful real estate transaction. Experience matters. When you choose to do business with Craig Realty Group of Keller Williams Realty New Orleans, you are choosing a team of experts with 20 years of combined real estate, marketing and sales experience. Our agents truly care about YOU and your needs. Give us a call today and let us guide you through the real estate process 504.382.3724.
Alicia Lagarde Craig 504-382-3724 | Jeff Craig 504-352-6190
Article Shared from The Advocate.com By Richard Thompson | August
"Thank you for all the hard work you and Jeff put in getting our house sold and for referring us to Anne here in Excelsior Springs. There are a lot of things that we will miss about New Orleans, and you two are on the top of the list! See you in the Spring for Jazz Fest"