Gibsland, Louisiana Property Taxes
The median property tax rate in Gibsland, LA is 1.25%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Gibsland at $31,424, the typical annual property tax bill reaches $368, which is significantly lower than the national median of $2,690. Property taxes in Gibsland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gibsland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gibsland or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gibsland, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$393
Ownwell’s Gibsland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gibsland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gibsland to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gibsland, Louisiana
Property taxes in Gibsland, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gibsland is 1.25%, significantly higher than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Gibsland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gibsland estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Gibsland's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71028 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Gibsland provides valuable insights into the varying tax landscape across Bienville Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gibsland Tax Rate
1.25%
Average Bienville County Tax Rate
1.22%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gibsland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71028 | 1.13% | 1.13% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Gibsland, Louisiana
In Gibsland, Louisiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Bienville Parish Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Gibsland, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Gibsland is $31,424, with the 25th percentile tax bill at $195 and the 75th percentile tax bill at $667. The highest and lowest median tax bills in the area are both $368 in the 71028 zip code. Being aware of these valuation processes in Gibsland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gibsland Assessed Value
$31,424
Average Bienville County Assessed Value
$40,000
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gibsland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71028 | $8,016 | $16,360 | $31,424 | $54,305 | $91,205 |
Source: Ownwell
Property Tax Bills Across Gibsland, Louisiana
In Gibsland, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Gibsland, Bienville County, can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $195, while at the 75th percentile, it rises to $667. At the 90th percentile, homeowners may pay up to $1,061. These variations depend on factors such as property size, location, and market conditions. With a median home price of $31,424, the median tax bill in Gibsland is $368, which is below the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable in Gibsland compared to other regions. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Gibsland Tax Bill
$368
Average Bienville County Tax Bill
$492
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Gibsland, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71028 | $99 | $195 | $368 | $667 | $1,061 |
Source: Ownwell