Gorum, Louisiana Property Taxes
The median property tax rate in Gorum, LA is 0.82%, which is lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Gorum at $32,700, the typical annual property tax bill amounts to $266, significantly below the national median of $2,690. Property taxes in Gorum are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Gorum'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 Gorum 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
Gorum, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$268
$249
Ownwell’s Gorum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gorum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gorum 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 Gorum, Louisiana
Property taxes in Gorum, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gorum is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Gorum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gorum 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 Gorum's effective property tax rate to other areas in Natchitoches County and the national median. For comparison, the zip code 71434 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these areas compare with Gorum provides valuable insights into the varying tax landscape across Natchitoches County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gorum Tax Rate
0.82%
Average Natchitoches County Tax Rate
0.95%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gorum, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71434 | 0.77% | 0.79% | 0.82% | 0.85% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Gorum, Louisiana
In Gorum, 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 Natchitoches 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. Assessment notices in Gorum 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 Gorum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 71434 has both the highest and lowest median tax bill at $266.
Average Gorum Assessed Value
$32,700
Average Natchitoches County Assessed Value
$62,900
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gorum, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71434 | $19,820 | $21,700 | $32,700 | $50,250 | $72,720 |
Source: Ownwell
Property Tax Bills Across Gorum, Louisiana
In Gorum, Louisiana, 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 a percentage of the market value of the property. For homeowners in Gorum, the median home price is $32,700. Property tax rates and the resulting tax bills can vary significantly within the area. For instance, the tax bill at the 25th percentile is $185, while at the 75th percentile, it rises to $396, and at the 90th percentile, it reaches $561. These variations highlight how different factors, such as property location and improvements, influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Gorum's property tax rates offer a unique perspective for homeowners. Understanding these details is crucial for property owners, as the tax bill directly impacts annual expenses and overall affordability of homeownership in the region.
Average Gorum Tax Bill
$266
Average Natchitoches County Tax Bill
$605
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Gorum, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 71434 | $171 | $185 | $266 | $396 | $561 |
Source: Ownwell