Gramercy, Louisiana Property Taxes
The median property tax rate in Gramercy, LA is 0.67%, which is significantly lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Gramercy, the typical annual property tax bill is $794, far below the national median of $2,690. Property taxes in Gramercy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Gramercy'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 Gramercy or another part of St. James Parish, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gramercy, Louisiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,820
Ownwell’s Gramercy Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gramercy with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Gramercy to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities and plan accordingly. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down for localized information. Remember, your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Gramercy, Louisiana
Property taxes in Gramercy, Louisiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gramercy is 0.67%, significantly lower than the U.S. national median of 0.99%. Local government entities within Gramercy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gramercy 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 Gramercy's effective property tax rate to other areas in Louisiana and the national median. For comparison, the ZIP code 70052 has both the highest and lowest median property tax rate of 0.67%. Understanding how these areas compare with Gramercy provides valuable insights into the varying tax landscape across St. James Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gramercy Tax Rate
0.67%
Average St. James County Tax Rate
0.68%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gramercy, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70052 | 0.27% | 0.43% | 0.67% | 0.82% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Gramercy, Louisiana
In Gramercy, 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 St. James Parish Assessor 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 Gramercy, 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. Being aware of these valuation processes in Gramercy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $794 in the 70052 zip code, which also has the lowest median tax bill at $794.
Average Gramercy Assessed Value
$107,166
Average St. James County Assessed Value
$90,899
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gramercy, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70052 | $25,000 | $50,448 | $107,166 | $181,670 | $255,920 |
Source: Ownwell
Property Tax Bills Across Gramercy, Louisiana
In Gramercy, located in St. James Parish, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor's office. The assessed value is typically a percentage of your property's market value. Homeowners in Gramercy experience a range of property tax bills, with the 25th percentile at $386 and the 75th percentile at $1,490. For those in the 90th percentile, the tax bill can reach up to $2,150. The median home price in Gramercy is $107,166, and the median property tax bill stands at $794, which is lower than the national median property tax rate of 0.99%. Factors influencing your tax bill include property improvements, neighborhood developments, and local government budgets. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the quality of life in the area.
Average Gramercy Tax Bill
$794
Average St. James County Tax Bill
$749
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Gramercy, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70052 | $205 | $386 | $794 | $1,490 | $2,150 |
Source: Ownwell