New Orleans Property Taxes
Because the New Orleans Multiple Listing Service (MLS) doesn’t provide information on property taxes, we often get asked by home buyers how to determine what the taxes will be on a particular house.
If you are considering purchasing a home in Orleans Parish, there’s a quick and easy way to estimate your potential property taxes by using the New Orleans assessor website.
The trick to estimating taxes is to remember that the assessed value of a home is 10% of the actual value. In the example above, the home is worth $200,000, so the assessed value would be $200,000 x 10% = $20,000. Entering the actual value of the home might make you fall off of your chair if you’ve never paid property taxes before.
Also, there is a check box for Homestead Exemption. If the property will be your primary residence, you are eligible to claim a homestead exemption. If it’s an investment or rental property, that savings is not available to you. As you can see from the graphic below, it makes a difference!
Have more questions about buying a New Orleans home? We have answers. Contact us today.