Grayson, Louisiana Property Taxes
The median property tax rate in Grayson, LA is 1.29%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Grayson, the typical annual property tax bill reaches $513, which is significantly lower than the national median of $2,690. Property taxes in Grayson 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 Grayson'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 Grayson 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
Grayson, 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 Grayson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grayson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grayson 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 Grayson, Louisiana
Property taxes in Grayson, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grayson is 0.65%, significantly lower than both the Louisiana state median of 0.53% and the U.S. national median of 0.99%. Local government entities within Grayson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grayson 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 Grayson's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71435 zip code has the highest median property tax rate of 0.65%, while the 71435 zip code has the lowest median tax rate of 0.65%. Understanding how these cities compare with Grayson provides valuable insights into the varying tax landscape across Caldwell Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grayson Tax Rate
1.29%
Average Caldwell County Tax Rate
1.34%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grayson, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71435 | 1.29% | 1.29% | 1.29% | 1.35% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Grayson, Louisiana
In Grayson, 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 Caldwell 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 Grayson, 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 Grayson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 71435 has the highest median tax bill at $513, highlighting the importance of understanding these valuations.
Average Grayson Assessed Value
$39,189
Average Caldwell County Assessed Value
$39,500
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grayson, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71435 | $8,509 | $18,000 | $39,189 | $68,986 | $113,268 |
Source: Ownwell
Property Tax Bills Across Grayson, Louisiana
In Grayson, located in Caldwell County, LA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Grayson is $39,189. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors such as property location, improvements, and market conditions influence the assessed value. The property tax bill can vary significantly among homeowners. For instance, the 25th percentile tax bill is $239, while the 75th percentile tax bill is $904. At the higher end, the 90th percentile tax bill reaches $1,467. Notably, the highest median tax bill in the county is $513, found in the zip code 71435. These taxes fund essential public services like schools, infrastructure, and emergency services. Homeowners in Grayson should be aware of these variables as they can impact their annual financial planning and overall property expenses. Comparing this to the national median property tax rate of 0.99%, Grayson's property tax rates can be seen as relatively moderate.
Average Grayson Tax Bill
$513
Average Caldwell County Tax Bill
$527
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Grayson, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71435 | $114 | $239 | $513 | $904 | $1,467 |
Source: Ownwell