Orleans Parish Collects its property taxes for 2012 next month which is opposite every other Parish in Louisiana. The tax is due for 2012 by the end of Jan. 2012. The property tax rate did not go up but actually decreased slightly. For a $200,000 dollar property the drop would be $6.50. This year 67% of the properties did not go up in value which means most people will see the slight break. Others may not be so lucky as there property was reaccessed either up or down. Most Up….No surprise here.
The bills go out next week. If you mortgage company is paying your tax out of escrow then check with them in Jan. to make sure they got the notice and will be paying. If you pay and they pay it takes a while to get the money back. One of our clients did that several years ago and it took 9 months for them to get their money back.
The tax rate is now 147.5 mills per hundred thousand of value meaning if your have a property valued at 100k then you taxes are $1475 per year. If you live in the property then you get a 75k homestead exemption which you have to file for. This is statewide. If you forget to file then its gone. I did have a seller who forgot and missed it for 5 years.
The homestead exemption is worth $1106.25 so make sure to file after your purchase at the Assessors office. The value of your property will be based on your sales price.
The assessor could get your property value wrong as well. Then you will need to file an appeal. Do this as soon as you know the numbers. As agents we help our clients by documenting what we think the value is through comparisons of like properties from recent sales. This is not the norm as most people are not paying on what there property is now worth.
How would you like to be paid before you do the work a year in advance ?
Assessor’s Office- City Hall , 1300 Perido Street, Room 4e01, 504-658-1300.