Example of Terrebonne Parish Property Tax Calculation
Terrebonne Parish calculates property tax by multiplying the assessed value of the property by the millage rate. The assessed value is determined by the Parish Assessor's Office and is based on the fair market value of the property.
For example, if a property has an assessed value of $100,000 and the millage rate is 10 mills, then the property tax would be $1,000 (10 mills x $100,000 assessed value = $1,000).
It's important to note that there may be additional taxes or fees that are added to the property tax, such as school district taxes or special assessments. However, the basic calculation for determining the property tax in Terrebonne Parish is based on the assessed value and millage rate.
If you want appeal your property tax assessment - contact your local tax assessor.
Terrebonne Parish Property Tax Rates
Here is a formatted table listing the Terrebonne Parish Property Tax rates:
| Tax | Rate per $100 Assessed Value |
|---|---|
| Parish General Fund | $0.856 |
| Parish Health Unit | $0.076 |
| Parish Library System | $0.390 |
| Parish Road and Bridge | $0.870 |
| Parish Jail and Prison | $0.250 |
| Fire Protection Districts | Varies by district |
As a tax advisor, it is important to note that these rates can vary based on the location and classification of the property being assessed. It is recommended to consult with a professional to ensure accuracy when calculating property taxes in Terrebonne Parish.
Who sets property tax rates in Terrebonne Parish ?
The property tax rates in Terrebonne Parish are set by the Terrebonne Parish Council. This is typically done annually during the budgetary process, which takes place in the fall. The Council must approve the tax rates before they can go into effect for the following year. Property taxes are an important source of revenue for the Parish, as they help to fund essential services such as police and fire protection, road maintenance, and public schools. The specific tax rate for each property is determined by its assessed value, which is determined by the Terrebonne Parish Assessor's Office.
Homestead exemptions in Terrebonne Parish ?
In Terrebonne Parish, Louisiana, homeowners can take advantage of various Homestead exemptions and deductions to reduce their property taxes. Here are the details of each exemption and deduction available in the county:
Homestead Exemptions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Available to all homeowners who use their property as their primary residence | Up to $75,000 of assessed property value | Reduces the taxable value of the property |
| Additional Homestead Exemption | Available to homeowners who are 65 years or older or totally and permanently disabled | Up to $7,500 of assessed property value | Can be used in conjunction with the regular Homestead Exemption |
Deductions
| Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Special Assessment Level | Available to homeowners who are 65 years or older or totally and permanently disabled | Qualifying properties are assessed at 10% of fair market value | Applies to school district taxes only |
| Tax Appeal Assistance Deduction | Available to homeowners who successfully appeal their property tax assessment | Amount varies | Covers fees paid to attorneys or other professionals who assist with the appeal |
Notes:
- To apply for any of these exemptions or deductions, homeowners should contact the Terrebonne Parish Assessor's Office.
- Homeowners may only claim one Homestead exemption per property, but they may be eligible for multiple deductions.
- Certain restrictions apply to each exemption and deduction. Homeowners should consult with the Assessor's Office for specific details.
When is Terrebonne Parish Property Tax due ?
Terrebonne Parish Property Tax Due Date and Payment Methods
Terrebonne Parish property taxes are due no later than December 31st every year. Failure to pay on time can result in penalties and interest charges. To ensure timely payment, taxpayers can choose from several convenient payment methods.
Payment Methods:
| Method | Description |
|---|---|
| Online Payments | Payments can be made online through the Terrebonne Parish Treasurer's website by using a credit card or electronic check. |
| By Mail | Payments can be made by sending a check or money order to the Terrebonne Parish Tax Collector's office. The mailing address can be found on the tax bill or on the parish website. |
| In Person | Payments can be made in person at the Terrebonne Parish Tax Collector's office during regular business hours. Cash, check, or money order are accepted. |
| By Phone | Payments can also be made over the phone by calling the Terrebonne Parish Tax Collector's office and using a credit card or electronic check. |
It is important to note that all payments must be made in US dollars. Taxpayers are encouraged to pay early to avoid any possible delays or issues with their payment.
In conclusion, Terrebonne Parish property taxes are due by December 31st of every year. Taxpayers can pay their property taxes through various methods including online, by mail, in person, or over the phone. It is important to pay on time to avoid any penalties or interest charges.
If you have more questions - contact your local tax collector.
How is Terrebonne Parish Property Tax penalty calculated ?
Terrebonne Parish calculates property tax penalties based on the amount of time that the payment is late. The penalty is calculated as a percentage of the total amount due, and it increases over time.
Here's how the penalty is calculated:
- If the payment is made within 30 days of the due date, there is no penalty.
- If the payment is made between 31 and 60 days late, the penalty is 2% of the total amount due.
- If the payment is made between 61 and 90 days late, the penalty is 4% of the total amount due.
- If the payment is made between 91 and 120 days late, the penalty is 6% of the total amount due.
- If the payment is made more than 120 days late, the penalty is 10% of the total amount due.
For example, let's say that a property owner in Terrebonne Parish owes $10,000 in property taxes for the year. If they pay their taxes within 30 days of the due date, there is no penalty. However, if they pay their taxes 60 days late, they would owe an additional $200 in penalties (2% of $10,000). If they pay their taxes 120 days late, they would owe an additional $600 in penalties (6% of $10,000).
It's important to note that property owners in Terrebonne Parish can also face interest charges if they do not pay their taxes on time. The interest rate is set by the state and is currently 1% per month.
Overall, property owners in Terrebonne Parish should make sure to pay their taxes on time to avoid penalties and interest charges.
We recommend contacting the Terrebonne Parish Tax Office or a local tax professional for the most up-to-date and accurate information.