71201 Property Tax Rate

Property owners in ZIP code 71201 (Monroe, Louisiana) pay a median of $1,680/year in property taxes on homes valued at $247,100. This translates to an effective tax rate of 0.68%, which is 50% above the Louisiana state average of 0.45%.

The monthly property tax burden for a median-valued home in 71201 is approximately $140, which factors into escrow payments on mortgages. This ZIP code is located within Ouachita Parish. This is $812 more than the Louisiana average of $868/year.

Compared to similar ZIP codes in Louisiana, 71201 has lower property taxes. ZIP codes with similar effective rates include 70770 (0.68%) and 70128 (0.68%).

In Monroe, property taxes represent approximately 3.1% of the median household income of $53,538, providing context for the relative tax burden on homeowners in this area.

Louisiana assesses property at fair market value upon sale with no state-mandated reassessment cap — the Ouachita Parish Assessor will value your property based on the purchase price. Ouachita Parish offers a $75,000 Homestead Exemption for primary residences — apply with the Ouachita Parish Assessor within 30 days of closing to reduce your annual assessed value. File your homestead exemption claim with the Ouachita Parish Assessor before your first tax bill arrives to secure the $75,000 reduction in assessed value.