Louisiana Has 3rd Lowest Real-Estate Property Taxes In United States
How do you feel about your taxes? You probably think you're paying too much. But if you live in Louisiana, that might be more about perception than anything else.
Often I hear people in Louisiana say that Louisiana is the "most taxed state" or "our taxes are higher than anyone else". Which always sounds a little odd to me. I moved to Louisiana a few years ago, after living in Michigan and Wisconsin. In both of those states, my personal tax burden was way higher than what I experience here in Louisiana.
But that's MY perception. So what about the facts? What do finance and tax professionals say about the tax burdens of Louisiana?
There's one bit of new research that say one big part of the tax pie is pretty low in Louisiana. Wallethub.com put together a team of Ph.Ds, CPAs, college professors, and tax experts to break down the property tax burden state by state.
Their research, in a piece called 2020's Property Taxes by State, says that Louisiana has the THIRD LOWEST PROPERTY TAX BURDEN in the US.
Not only did the experts tackle property taxes, they took a look at Vehicle Property Taxes per state as well. This one is a little tricky, because there are states who have ZERO Vehicle Property Taxes, so we'll eliminate them off the top. After those states are taken out, Louisiana ranks as THE LOWEST VEHICLE PROPERTY TAX in the US.
This isn't a new phenomenon though. Louisiana has been regarded as a TAX FRIENDLY state for a LONG time. Research pieces, reports, experts, statistical analysis, all kinds of data over the last few decades have pointed in the same direction, Louisiana has some of the lowest taxes in the country.