Odessa, New York Property Taxes
The median property tax rate in Odessa, NY is 2.45%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Odessa at $122,950, the typical annual property tax bill reaches $3,489, surpassing the national median of $2,690. Property taxes in Odessa are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Odessa'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 Odessa 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
Odessa, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.45%
Estimate Property Tax Bill
$3,012
$2,978
Ownwell’s Odessa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Odessa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Odessa 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 Odessa, New York
Property taxes in Odessa, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Odessa is 2.45%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Odessa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Odessa 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 Odessa's effective property tax rate to other counties in New York and the national median. For comparison, the 14869 zip code has the same median property tax rate of 2.45%. Understanding how these cities compare with Odessa provides valuable insights into the varying tax landscape across Schuyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odessa Tax Rate
2.45%
Average Schuyler County Tax Rate
2.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odessa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14869 | 2.21% | 2.41% | 2.45% | 3.38% | 3.38% |
Source: Ownwell
Property Tax Assessment Values Across Odessa, New York
In Odessa, New York, 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 Schuyler County 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 Odessa 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 Odessa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Odessa, the zip code with the highest median tax bill is 14869, with an average bill of $3,489. This same zip code also has the lowest median tax bill, showing a consistent tax environment within the area. The median home price is $122,950, with tax bills ranging from $2,249 at the 25th percentile to $5,857 at the 90th percentile.
Average Odessa Assessed Value
$122,950
Average Schuyler County Assessed Value
$150,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odessa, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14869 | $50,000 | $80,000 | $122,950 | $161,200 | $225,527 |
Source: Ownwell
Property Tax Bills Across Odessa, New York
In Odessa, property tax bills are calculated based on the assessed value of a home, which is determined by the Schuyler County tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Odessa is $122,950, and property tax rates can vary significantly within the area. Factors such as property location, size, and improvements all play a role in determining the assessed value. Homeowners in Odessa can expect tax bills to range widely; the 25th percentile tax bill is $2,249, while the 75th percentile reaches $4,630. For those at the higher end, the 90th percentile tax bill can climb to $5,857. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Odessa may find their tax burdens higher or lower depending on their specific circumstances. Understanding these factors can help homeowners anticipate their tax responsibilities and plan accordingly.
Average Odessa Tax Bill
$3,489
Average Schuyler County Tax Bill
$3,536
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Odessa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14869 | $1,189 | $2,249 | $3,489 | $4,630 | $5,857 |
Source: Ownwell