Odessa, Missouri Property Taxes
The median property tax rate in Odessa, MO is 1.18%, slightly lower than the Missouri state median of 1.20% but still higher than the national median of 0.99%. With a median home value of $37,115 in Odessa, the typical annual property tax bill amounts to $416, which is significantly below the national median of $2,690. Property taxes in Odessa are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as 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, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$438
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, Missouri
Property taxes in Odessa, Missouri, 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 1.18%, higher than 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 areas and the national median. For comparison, the 64076 zip code has the same median property tax rate of 1.18%. Understanding how these cities compare with Odessa provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odessa Tax Rate
1.18%
Average Johnson County Tax Rate
1.24%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odessa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64076 | 0.92% | 1.03% | 1.18% | 1.21% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Odessa, Missouri
In Odessa, Missouri, 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 Johnson 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. For instance, the median home price in Odessa is $37,115, with tax bills ranging from $252 at the 25th percentile to $1,437 at the 90th percentile. The zip code 64076 has both the highest and lowest median tax bill at $416. 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.
Average Odessa Assessed Value
$37,115
Average Johnson County Assessed Value
$74,883
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odessa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64076 | $9,966 | $21,286 | $37,115 | $99,228 | $144,828 |
Source: Ownwell
Property Tax Bills Across Odessa, Missouri
In Odessa, located in Johnson County, MO, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and typically represents a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, leading to variations in tax bills among homeowners. For instance, in Odessa, the median home price is $37,115. Homeowners in the 25th percentile can expect a tax bill around $252, while those in the 75th percentile might see a bill closer to $1,053. The 90th percentile tax bill can go up to $1,437. These figures highlight the range of property tax obligations depending on the property's assessed value. Compared to the national median property tax rate of 0.99%, Odessa's tax rates offer a spectrum of costs that can significantly impact homeowners' annual expenses.
Average Odessa Tax Bill
$416
Average Johnson County Tax Bill
$947
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Odessa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64076 | $129 | $252 | $416 | $1,053 | $1,437 |
Source: Ownwell