71241 Property Tax Rate

Property owners in ZIP code 71241 (Farmerville, Louisiana) pay a median of $560/year in property taxes on homes valued at $130,200. This translates to an effective tax rate of 0.43%, which is 5% below the Louisiana state average of 0.45%.

The monthly property tax burden for a median-valued home in 71241 is approximately $47, which factors into escrow payments on mortgages. This ZIP code is located within Union Parish. This is $308 less than the Louisiana average of $868/year.

Compared to similar ZIP codes in Louisiana, 71241 has higher property taxes. ZIP codes with similar effective rates include 70094 (0.43%) and 70058 (0.43%).

In Farmerville, property taxes represent approximately 1.2% of the median household income of $44,895, providing context for the relative tax burden on homeowners in this area.

Louisiana assesses property at fair market value upon sale, with no statutory reassessment limitation — your property will be taxed based on the Union Parish Assessor's valuation of your purchase. Union Parish provides a $75,000 Homestead Exemption for primary residence owners — file your claim with the Union Parish Assessor within 30 days of closing to reduce your assessed value. Register your homestead exemption with the Union Parish Assessor before your first tax bill is issued to ensure the $75,000 reduction applies to your initial property tax assessment.