17 Jul Fox Business Examines Property Taxes Nationwide and the Importance of Understanding Property Assessments

National Report Highlights Property Tax Differences and the Importance of Reviewing Property Assessments

Property taxes remain an important consideration for homeowners across the United States, and a recent Fox Business report examined the significant differences in property tax burdens from state to state.

The article, “New Jersey tops nation’s highest property tax list at $9,413 while southern states offer relief,” reports that the median property tax bill in the United States increased 2.8% from 2023 to 2024, reaching $3,500. According to data cited by Fox Business from Realtor.com, New Jersey had the highest median property tax amount at $9,413, while several Southern states-including Louisiana-were among those with substantially lower median property tax amounts.

Fox Business also highlights an important point for property owners: homeowners may have an opportunity to challenge an assessment when they believe the assessed value of their property does not accurately reflect its value. The article cites research indicating that more than 40% of properties nationwide could potentially save at least $100 by successfully protesting their assessed value, with median potential savings exceeding $500.

Understanding Property Taxes in Louisiana

Property taxes work differently from state to state, making it important for Louisiana property owners to understand how assessments and millages determine their individual tax obligations.

In Louisiana, the St. Tammany Parish Assessor’s Office is responsible for listing, valuing, and enumerating property subject to ad valorem taxation. Residential property is generally assessed at 10% of fair market value, while commercial property is generally assessed at 15% of fair market value, subject to Louisiana law and applicable exemptions.

The Assessor’s Office does not establish the individual millage rates charged by taxing authorities. Instead, millages are established by the various taxing bodies, and those rates are used along with a property’s assessed value and applicable exemptions to determine the property tax obligation.

This distinction is important because an increase in a property’s assessed value does not necessarily mean the Assessor’s Office has increased the property’s tax rate. Louisiana’s reassessment and millage system includes adjustments designed to account for changes in property values.

Why St. Tammany Property Owners Should Review Their Assessments

The Fox Business report serves as a reminder that property values and property taxes can have a meaningful impact on homeowners. For St. Tammany Parish property owners, one of the most important steps is to regularly review the information associated with their property assessment.

The St. Tammany Parish Assessor’s Office encourages property owners to check their assessments each year and verify their property information, including the property’s assessed value, mailing and physical addresses, special assessments, and exemptions.

For 2026, the official Public Exposure/Review Period is August 17 through August 31, 2026. Property owners who believe their assessment is incorrect can file an Assessment Review with the Assessor’s Office during this period. The deadline for filing a 2026 Assessment Review is August 31.

Property owners can also use the Assessor’s online assessment search to review their property information and see the tax details associated with their parcel, including the applicable millages and the distribution of tax dollars.

Providing Information for St. Tammany Property Owners

National coverage of property taxes underscores why understanding the assessment process is important for homeowners. While tax structures vary throughout the country, property owners benefit from knowing how their property is assessed and what factors contribute to their final tax obligation.

The St. Tammany Parish Assessor’s Office provides property owners with online tools, assessment information, millage data, forms, and educational resources to help residents better understand the property assessment process.

For more information or to review a property assessment, property owners can visit STPAO.org.

Source: Fox Business
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