Odessa, Florida Property Taxes
The median property tax rate in Odessa, FL is 1.73%, significantly higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Odessa at $361,763, the typical annual property tax bill reaches $5,793, 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 the 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, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$6,258
$5,808
$1,148
Average Tax Savings
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 not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Odessa. 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, Florida
Property taxes in Odessa, Florida, 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 1.73%, significantly higher than both the Florida 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 Florida and the national median. For comparison, the 33556 zip code has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Odessa provides valuable insights into the varying tax landscape across Pasco County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odessa Tax Rate
1.73%
Average Pasco County Tax Rate
1.24%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odessa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33556 | 0.80% | 1.19% | 1.73% | 2.06% | 2.33% |
Source: Ownwell
$1,148
Average Odessa Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Odessa, Florida
In Odessa, Florida, 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 Pasco County Property Appraiser 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. Notably, the zip code 33556 has both the highest and lowest median tax bill at $5,793.
Average Odessa Assessed Value
$361,763
Average Pasco County Assessed Value
$211,605
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odessa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33556 | $107,175 | $256,517 | $361,763 | $477,330 | $573,904 |
Source: Ownwell
$1,148
Average Odessa Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Odessa, Florida
In Odessa, Pasco County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate is then applied to this value to calculate the annual tax bill. Factors such as local tax rates, property improvements, and market conditions can influence the assessed value. Homeowners in Odessa face a median property tax bill of $5,793, which is significantly higher than the national median property tax rate of 0.99%. For example, the tax bill in the 75th percentile reaches up to $8,220, and in the 90th percentile, it can be as high as $10,198. Ownwell helps homeowners in Odessa save on their property tax bills by offering professional property tax appeal and exemption services. Our experts analyze your property's assessed value, identify any discrepancies, and file appeals on your behalf. This can result in substantial savings, ensuring you only pay your fair share of property taxes. With Ownwell, you can confidently navigate the complexities of property tax assessments and reduce your financial burden.
Average Odessa Tax Bill
$5,793
Average Pasco County Tax Bill
$2,147
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Odessa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33556 | $1,873 | $3,379 | $5,793 | $8,220 | $10,198 |
Source: Ownwell
$1,148
Average Odessa Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Pasco Property Appraiser | |
| Website | search.pascopa.com |
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