Odum, Wayne County, Georgia Property Taxes
The median property tax rate in Odum, GA is 1.20%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Odum, the typical annual property tax bill reaches $1,567, which is still below the national median of $2,690. Property taxes in Odum are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Odum'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 Odum or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Odum, Wayne County, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,390
$1,289
Ownwell’s Odum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Odum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Odum 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 Odum, Wayne County, Georgia
Property taxes in Odum, Georgia, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Odum is 1.20%, significantly higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Odum set these rates annually, and they can vary across different neighborhoods. Each year, Odum 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 Odum's effective property tax rate to other counties in Georgia and the national median. For comparison, the zip code 31555 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Odum provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odum Tax Rate
1.20%
Average Wayne County Tax Rate
1.20%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odum, Wayne County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31555 | 1.20% | 1.20% | 1.20% | 1.20% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Odum, Wayne County, Georgia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Odum, Georgia. 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 Wayne 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 Odum, 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 property tax bill in Odum is $1,567, with the 25th percentile at $673 and the 75th percentile at $2,807. 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 Odum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Odum, Wayne County, Georgia
Source: Ownwell
$73,303
$114,832
$156,361
Average Odum Assessed Value
$115,796
Average Wayne County Assessed Value
$82,626
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odum, Wayne County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31555 | $20,099 | $45,806 | $115,796 | $222,575 | $333,555 |
Source: Ownwell
Property Tax Bills Across Odum, Wayne County, Georgia
In Odum, Wayne County, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Odum is $115,796. Homeowners in this region experience a range of property tax bills. For example, the 25th percentile tax bill is $673, while the 75th percentile reaches $2,807, and the 90th percentile can be as high as $4,177. These tax bills are influenced by various factors, including the assessed value of the property, local tax rates, and applicable exemptions. The assessed value is determined by the county assessor and reflects a percentage of the market value. Local tax rates, which are set by municipal authorities, then apply to this assessed value to determine the final tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Odum may find their tax bills to be relatively moderate. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Odum Tax Bill
$1,567
Average Wayne County Tax Bill
$1,204
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Odum, Wayne County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31555 | $333 | $673 | $1,567 | $2,807 | $4,177 |
Source: Ownwell