Grayson, Louisiana Property Taxes
The median property tax rate in Grayson, LA is 1.07%, 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 $498, 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 empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grayson with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Grayson to provide an accurate property tax bill estimate. This valuable tool helps you understand potential tax liabilities, making financial planning easier. For those interested in more granular insights, you can explore trends at a neighborhood level by scrolling down for localized information. Your property's assessed value, determined by the county, is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Grayson, Louisiana
Property taxes in Grayson, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grayson is 1.07%, which is significantly higher than 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. For comparison, the zip code 71435 has both the highest and lowest median property tax rate of 1.07%. Understanding how these cities compare with Grayson provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grayson Tax Rate
1.07%
Average Jackson County Tax Rate
0.74%
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 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
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 Jackson 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 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. In Grayson, the median home price is $32,400. The 25th percentile tax bill is $422, while the 75th percentile tax bill is $574. The highest and lowest median tax bills in the city, both at $498, are found in zip code 71435.
Average Grayson Assessed Value
$32,400
Average Jackson County Assessed Value
$44,500
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 | $28,480 | $29,950 | $32,400 | $46,750 | $55,360 |
Source: Ownwell
Property Tax Bills Across Grayson, Louisiana
In Grayson, 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 typically a percentage of the home's market value. For instance, if the median home price in Grayson is $32,400, the assessed value would be a portion of this amount. The property tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, size, and improvements. In Grayson, the annual property tax bills range from $422 at the 25th percentile to $620 at the 90th percentile. This variation highlights how individual property characteristics can affect tax obligations. Compared to the national median property tax rate of 0.99%, Grayson offers relatively affordable property taxes, which can be a significant advantage for homeowners. Lower property taxes can make homeownership more accessible and reduce the financial burden on residents.
Average Grayson Tax Bill
$498
Average Jackson County Tax Bill
$274
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 | $376 | $422 | $498 | $574 | $620 |
Source: Ownwell