Odessa, North Carolina Property Taxes
The median property tax rate in Odessa, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Odessa, the typical annual property tax bill is $60, far below 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 the primary residence and agricultural exemptions. Understanding Odessa'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 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, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$60
Ownwell’s Odessa Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Odessa with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Odessa to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in examining trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Odessa, North Carolina
Property taxes in Odessa, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Odessa is 0.40%, lower than both the North Carolina 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 North Carolina and the national median. For comparison, the 33556 zip code has the highest median property tax rate of 0.40%, while the 33556 zip code also has the lowest median tax rate of 0.40%. Understanding how these cities compare with Odessa provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odessa Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odessa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33556 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Odessa, North Carolina
In Odessa, North Carolina, 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 Avery County Appraisal District 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 Odessa, 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 Odessa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Odessa is $15,100, with tax bills ranging from $60 at the 25th percentile to $60 at the 90th percentile.
Property Tax Assessment Values Across Odessa, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Odessa Assessed Value
$15,100
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odessa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33556 | $15,100 | $15,100 | $15,100 | $15,100 | $15,100 |
Source: Ownwell
Property Tax Bills Across Odessa, North Carolina
In Odessa, Avery County, NC, property tax bills are calculated based on the assessed value of the property. The county’s property tax rate is applied to this assessed value to determine the tax bill. For homeowners in Odessa, the median home price stands at $15,100. The tax rate in Avery County is notably lower than the national median property tax rate of 0.99%, leading to relatively modest tax bills. Factors such as the property’s location, size, and condition are considered when determining its assessed value. In Odessa, the tax bills show minimal variation across different percentiles, with the 25th, 75th, and 90th percentiles all having a tax bill of $60. This consistency suggests a uniform approach to property valuation and taxation within the city. For homeowners, this means predictable and manageable property tax expenses, contributing to the affordability of living in Odessa. The lower tax burden can make homeownership more attractive and financially sustainable compared to regions with higher property tax rates.
Average Odessa Tax Bill
$60
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Odessa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33556 | $60 | $60 | $60 | $60 | $60 |
Source: Ownwell