Grambling, Louisiana Property Taxes
The median property tax rate in Grambling, LA is 1.30%, considerably higher than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Grambling at $80,852, the typical annual property tax bill reaches $1,019, still below the national median of $2,690. Property taxes in Grambling 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 Grambling'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 Grambling 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
Grambling, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,051
Ownwell’s Grambling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grambling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grambling 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 Lincoln County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Grambling, Louisiana
Property taxes in Grambling, Louisiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grambling is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Grambling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grambling 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 Grambling's effective property tax rate to other counties in Louisiana and the national median. For comparison, the 71245 zip code has the highest median property tax rate of 1.30%, while the 71245 zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Grambling provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grambling Tax Rate
1.30%
Average Lincoln County Tax Rate
0.89%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grambling, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71245 | 1.19% | 1.19% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Grambling, Louisiana
In Grambling, 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 Lincoln 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 Grambling, 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. The median home price in Grambling is $80,852, with tax bills ranging from $730 at the 25th percentile to $2,030 at the 90th percentile. The zip code with the highest median tax bill is 71245, at $1,019. 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 Grambling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grambling Assessed Value
$80,852
Average Lincoln County Assessed Value
$106,951
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grambling, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71245 | $35,849 | $58,532 | $80,852 | $116,619 | $160,020 |
Source: Ownwell
Property Tax Bills Across Grambling, Louisiana
In Grambling, located in Lincoln County, LA, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The median home price in Grambling is $80,852. Local tax authorities determine the assessed value, which is then multiplied by the local tax rate to calculate the tax bill. For Lincoln County, the property tax rate is relatively moderate compared to the national median property tax rate of 0.99%. Several factors influence how much homeowners pay in property taxes, including the assessed value of their property and any applicable exemptions. For instance, the 25th percentile tax bill is $730, while the 75th percentile tax bill is $1,468, indicating variability based on property values and exemptions. The highest median tax bill in the area is $1,019, which can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Grambling Tax Bill
$1,019
Average Lincoln County Tax Bill
$972
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Grambling, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71245 | $472 | $730 | $1,019 | $1,468 | $2,030 |
Source: Ownwell