Help with taxes analysis

[Damon Armstrong]

Hello BP.

I've looked up some property taxes on the parish tax assessor website. I found some numbers but I need help determing EXACTLY what the monthly and yearly taxes are on the property and any important information I need to know. Not sure what all of this means, so any help would be a pleasure.

Here is the info I have on it.

Abstract	Description Acres/Lots Assessment LOT(S) 1 $2,565.00 RES. (H/E) 0 $8,020.00 Total $10,585.00
Tax Amounts	Parish Tax $1,052.26 City Tax $0.00 Total $1,052.26
Homestead	Homestead Assessed Value 7,500 Homestead Deduction ($745.58)
Fines	Tall Grass Amount Due $0.00 Tax Commission Fee $0.00 Total $0.00
Taxpayer Amount Due	$306.68

[Bryant Cheely]

@Damon Armstrong

That is just stating that the tax assessed value of the property is $10,585. That value is for taxation reasons only and is usually 80-90% of the FMV (Fair Market Value).

Your taxes that you would have to pay on that are roughly 10%, which is the $1,052.26 amount; however, in the state of Louisiana if this is your primary residence you can claim the homestead exemption. This tax credit will exempt you from the first $7,500 of your tax accessed value ($10,585). This means that you would only owe taxes on the remaining $3,085, leaving your yearly taxes on the property to be $306.68 (or $25.50 per month).

Hope this helps. Please let me know if you have any questions.

-Bryant