To find an estimate of your yearly taxes you start by multiplying the current Market Value by 10%. This gives you the assessment on the parcel. If a Homestead Exemption (HEX) is in place you would then subtract $7500 ($75,000 HEX x 10%) from the assessed value to get the taxable amount. If the parcel does not have a HEX, then the assessment is also the taxable value.

Once you have the taxable value you multiply that amount by the millage for your particular ward. The product of that will yield the amount of taxes paid for the year. To find a monthly breakdown of the taxes, simply divide the yearly tax by 12. See example below:

Property Tax Calculation Sample
Market Value = $200,000
x 10%
Assessed Value* = $20,000
Homestead Exemption Deduction (if applicable) - $7,500
Taxed Value = $12,500
*Assessed value is the Taxed value if no Homestead Exemption is in place.
Taxed Value $12,500
Millage Rate (for this example we use Ward 82, the Metairie area) x 0.10529
Yearly Taxes = $1,316.13

Taxes per month = $109.68