It's a Reassessment Year. What That Means for Tax Payers.

It's a Reassessment Year. What That Means for Tax Payers.

Hey! This week we're addressing two critical topics affecting our community. With a hurricane approaching, I've included essential preparedness tips to help keep you and your property safe. Your well-being is my top priority, and I'm here to support you through this challenging time. On another note, it's reassessment year in St. Tammany Parish. While less urgent than the storm, understanding this process is crucial for homeowners. I've broken down what reassessment means for you as a taxpayer. Whether it's weathering storms or navigating property taxes, I'm committed to keeping you informed and supported. Stay safe, and don't hesitate to reach out if you need assistance.

As always, your resource for everything real estate,

Nicole

As we brace for the approaching hurricane, my thoughts are with you and your loved ones. Your safety is paramount, and I urge you to take immediate precautions. The tips I've provided are crucial for protecting your property and ensuring your well-being during this challenging time. Please follow local authorities' guidance here and evacuate if instructed. I'm monitoring the situation closely and stand ready to assist with any post-storm repairs or concerns. Don't hesitate to reach out if you need help – I'm here for you. Stay safe, stay informed, and know that we're in this together. I'll be here to support you through this storm and its aftermath.

Every four years, St. Tammany Parish undergoes a mandatory property reassessment, and that time has come again. The last time we had assessments done was in 2020. The main thing to note is that this process is crucial for maintaining fair property taxation. It affects both the value of your property and the millage rates set by various taxing bodies – here's what you need to know

Mass Appraisal Process:

  • Assessor's office uses market, cost, and income approaches

  • Recent sales data used to establish values for the next four years. They are using date from July 1, 2022 to June 30, 2023.

Property Valuation:

  • Land assessed at 10% of market value

  • Residential homes: 10% of market value

  • Commercial structures: 15% of market value

Homestead Exemption and Special Freezes. You may qualify to pay less:

  • Homestead exemption can significantly lower your tax bill.

  • Senior, veteran, and disability freezes available

  • Make sure you reach out to the Assessor’s office to verify

Millage Rates:

  • Taxing bodies must adjust rates in reassessment years. They can choose to roll up or roll down mileage

  • Public hearings held for any proposed increases

Important Tips:

  • Review your assessment annually

  • Verify information with the Assessor's Office

  • Attend public hearings to voice opinions on tax changes

For more detailed information, visit the assessor’s office website or contact the Assessor's Office directly. 985-809-8180.