Assessed Value
Assessed value is the dollar amount assigned to a property by the local parish or county tax authority for the purpose of calculating property taxes.
In Louisiana, assessed value is typically a percentage of a property's fair market value — not the full market value itself. The local assessor determines this figure, and it is used alongside local millage rates to calculate your annual property tax bill.
Assessed value is not the same as appraised value or market value. A home can have a market value of $300,000 but an assessed value that is significantly lower. Confusing these numbers can lead to misunderstanding your tax obligations or your home's equity position.
Why This Matters: Your assessed value directly affects your monthly escrow payment. Understanding how it is calculated — especially in Louisiana's unique parish system — helps you anticipate tax changes and avoid escrow shortages.
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