Tax Calculations

 Tax rates are based on millages. Millages are voted on by the public for the various governmental services the public deem necessary. The tax rate in Washington Parish will vary from area to area because each part of the parish has its own special districts or taxes that have been approved by the public. Examples of such special districts are: fire, recreation, drainage, etc. The easiest way to understand tax millages is to use a 1 mill tax as an example. A one mill property tax will produce $1.00 in taxes on each 1,000 dollars of “assessed value”. You must always convert “market value” to “assessed value”. The average millage rate for Washington Parish is 100 mills.         
 

Taxes are calculated by multiplying the assessed value by the tax rate set by various millages, bond rates and fees voted on by registered voters in different districts established by the Legislature or Constitution. If the property is your home, you may deduct a maximum of $7,500 from the total assessed value before finding the taxable assessed value. For example, if your home is valued at $100,000 and assessed at 10%, or $10,000, and you are eligible and have signed for homestead exemption, you would calculate your taxes as follows:         
 

This first example will be a parcel of residential property which is subject to a 10% assessment ratio: With Homestead Exemption.


Example 1 (With Homestead Exemption): 

Market Value  = $100,000 x 10% = 10,000 Assessed Value                              

Homestead Exemption = $75,000 x 10% = 7,500 Assessed Value

Market Value Less Homestead Exemption = $25,000 x 10% = 2,500 Assessed Value 

Tax Rate = 100 Mills  

Assessed Value x Tax Rate = 2,500 x 0.100 = $250 Taxes  


Example 2 (Without Homestead Exemption):

Market Value = $100,000 x 10% = 10,000 Assessed Value                                

Tax Rate = 100 Mills                                

Assessed Value x Tax Rate = 10,000 x 0.100 = $1,000 Taxes