By Stacey Tinsley, stinsley@bossierpress.com
SmartAsset recently released its fifth annual study on property taxes, and Bossier ranked among the Louisiana parishes getting the “most bang for their buck.”
The study analyzed metrics, including quality of local schools and local crime rates compared to property taxes, to find where people were seeing the most value for their tax dollars.
Per the SmartAsset list, Bossier Parish ranks 8th in the state. This is due to the metrics of having one of the lowest property tax rates, the highest school rating, lowest crimes per 100,000 people, and a high overall value Index ratings.
Bossier Parish Assessor Bobby Edmiston noted most homeowners pay less than $1,000 annual in taxes on real estate. In fact, the median property tax payment in Louisiana is $750 per year.
“Yes, Bossier Parish residents are definitely getting the most ‘bang for their buck’ when it comes to home ownership and property taxes,” Edmiston said.
One reason why the property tax in Louisiana is one of the lowest in the country is because homeowners in Louisiana are eligible for the homestead exemption, which can significantly reduce property taxes owed. The homestead exemption applies to owner-occupied primary residences and reduces assessed value by $7,500.
“For the last 20 years homeowners in Louisiana have one of the lowest property tax in the United States. I don’t see that changing anytime in the future,” Edmiston explained.
Edmiston gave an example on how property taxes in Louisiana compare to neighboring state, Texas.
“If you buy a $200,000 house in Bossier you may pay around $1,800 dollars in property taxes. If you take that same house and you moved it to Texas, then you may pay around $5,000 in property taxes,” Edmiston said.
However, property tax rate is just one of many factors to consider when choosing a community to settle into. The Northwest Louisiana Economic Partnership’s Cost of Living Index published last month illustrates Bossier Parish also enjoys a comfortable cost of living, the school district is regularly regarded as one of the best in the state, and infrastructure improvements such as new roads, like the Walter O. Bigby Carriageway, and the new $20M worth of repairs and improvements in the parish are underway.
Overall, La Salle took the No. 1 ranking in SmartAsset’s list.
