Gilliam, Louisiana Property Taxes
The median property tax rate in Gilliam, LA is 1.74%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Gilliam at $38,552, the typical annual property tax bill reaches $691, which is below the national median of $2,690. Property taxes in Gilliam 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 Gilliam'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 Gilliam 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
Gilliam, 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 Gilliam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilliam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilliam 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 Gilliam, Louisiana
Property taxes in Gilliam, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilliam is 1.74%, significantly higher than both the Louisiana state median and the U.S. national median of 0.99%. Local government entities within Gilliam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilliam 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 Gilliam's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71029 zip code has the highest median property tax rate of 1.74%, while the same zip code also has the lowest median tax rate of 1.74%. Understanding how these cities compare with Gilliam provides valuable insights into the varying tax landscape across Caddo Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilliam Tax Rate
1.74%
Average Caddo County Tax Rate
1.59%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilliam, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71029 | 1.62% | 1.67% | 1.74% | 1.87% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Gilliam, Louisiana
In Gilliam, 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 Caddo 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 Gilliam, 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 Gilliam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in this area is $38,552, with the annual tax bill ranging from $399 at the 25th percentile to $2,312 at the 90th percentile. The zip code 71029 has the highest median tax bill of $691.
Average Gilliam Assessed Value
$38,552
Average Caddo County Assessed Value
$75,583
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilliam, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71029 | $10,464 | $21,858 | $38,552 | $64,252 | $144,091 |
Source: Ownwell
Property Tax Bills Across Gilliam, Louisiana
In Gilliam, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Various factors influence this calculation, including the home's location, size, and condition. For instance, the median home price in Gilliam is $38,552, and homeowners can expect their tax bills to fall within a range depending on their property's assessed value. The 25th percentile tax bill is around $399, while the 75th percentile tax bill reaches $1,082, and the 90th percentile tax bill can go up to $2,312. Homeowners in the 71029 zip code experience a median tax bill of $691, which is significantly lower than the national median property tax rate of 0.99%. Understanding these factors helps homeowners in Gilliam anticipate their property tax obligations and budget accordingly.
Average Gilliam Tax Bill
$691
Average Caddo County Tax Bill
$1,209
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilliam, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71029 | $211 | $399 | $691 | $1,082 | $2,312 |
Source: Ownwell