Gray, Louisiana Property Taxes
The median property tax rate in Gray, LA is 0.77%, noticeably lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Gray at $137,150, the typical annual property tax bill is $1,103, which is significantly below the national median of $2,690. Property taxes in Gray are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Gray's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gray 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
Gray, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,056
$980
Ownwell’s Gray Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gray with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gray 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 Gray, Louisiana
Property taxes in Gray, Louisiana, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Gray is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Gray set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gray 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 Gray's effective property tax rate to other counties in Louisiana and the national median. For comparison, the zip code 70359 has the highest median property tax rate of 0.77%, while the lowest median tax rate is also 0.77%. Understanding how these cities compare with Gray provides valuable insights into the varying tax landscape across Lafourche, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gray Tax Rate
0.77%
Average Lafourche County Tax Rate
0.68%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gray, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70359 | 0.28% | 0.57% | 0.77% | 0.91% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Gray, Louisiana
In GRAY, 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 Lafourche 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 GRAY, 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 GRAY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Lafourche Parish, the highest and lowest median tax bills are both $1,103, found in the 70359 zip code. This insight can assist homeowners in making informed decisions about their property taxes.
Average Gray Assessed Value
$137,150
Average Lafourche County Assessed Value
$90,200
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gray, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70359 | $38,010 | $79,225 | $137,150 | $192,325 | $227,890 |
Source: Ownwell
Property Tax Bills Across Gray, Louisiana
Property tax bills in Gray, located in Lafourche Parish, Louisiana, are calculated based on the assessed value of the property, which is typically a percentage of the market value. The median home price in Gray is $137,150, and property tax rates in the area are determined by local government budgets and voter-approved measures. The median property tax rate in the U.S. is 0.99%, but specific rates in Gray can vary. Homeowners in Gray can expect their tax bills to fall within a range, with the 25th percentile at $571 and the 75th percentile at $1,732. For those in the 90th percentile, tax bills can reach up to $2,204. These amounts reflect the local property tax rate applied to the assessed value of homes. High property tax bills can significantly impact household budgets, making it essential for homeowners to understand how their taxes are calculated and to explore potential exemptions or appeals if they believe their property is over-assessed.
Average Gray Tax Bill
$1,103
Average Lafourche County Tax Bill
$691
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Gray, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70359 | $189 | $571 | $1,103 | $1,732 | $2,204 |
Source: Ownwell