Odessa, Texas Property Taxes
The median property tax rate in Odessa, TX is 1.71%, higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $115,655 in Odessa, the typical annual property tax bill amounts to $1,710, which is 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 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, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
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, Texas
Property taxes in Odessa, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Odessa is 1.71%, higher than both the Texas 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 Texas and the national median. For comparison, the 79766 zip code has the highest median property tax rate of 1.83%, while the 79758 zip code has the lowest median tax rate of 1.52%. Understanding how these cities compare with Odessa provides valuable insights into the varying tax landscape across Ector County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odessa Tax Rate
1.71%
Average Ector County Tax Rate
1.72%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odessa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79741 | N/A | N/A | N/A | N/A | N/A |
| 79758 | 0.86% | 1.10% | 1.52% | 1.81% | 1.83% |
| 79761 | 0.76% | 1.22% | 1.65% | 2.27% | 2.35% |
| 79762 | 1.00% | 1.39% | 1.64% | 2.21% | 2.33% |
| 79763 | 0.65% | 1.17% | 1.83% | 1.94% | 2.26% |
| 79764 | 0.60% | 1.11% | 1.83% | 1.93% | 2.22% |
| 79765 | 1.51% | 1.61% | 1.67% | 2.15% | 2.28% |
| 79766 | 0.64% | 1.25% | 1.83% | 1.83% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Odessa, Texas
In Odessa, Texas, 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 Ector 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. 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. In Odessa, the median home price is $115,655. The zip code 79765 has the highest median tax bill at $4,625, while zip code 79766 has the lowest at $744. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Odessa Assessed Value
$115,655
Average Ector County Assessed Value
$114,531
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odessa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79741 | N/A | N/A | N/A | N/A | N/A |
| 79758 | $29,813 | $49,666 | $135,073 | $215,981 | $310,446 |
| 79761 | $15,616 | $46,766 | $112,669 | $179,448 | $241,699 |
| 79762 | $79,727 | $123,655 | $175,806 | $246,892 | $320,141 |
| 79763 | $16,358 | $33,385 | $80,391 | $141,328 | $213,312 |
| 79764 | $14,876 | $25,921 | $55,562 | $120,190 | $236,094 |
| 79765 | $159,234 | $219,956 | $266,468 | $316,580 | $373,389 |
| 79766 | $15,232 | $25,143 | $48,272 | $100,302 | $250,288 |
Source: Ownwell
Property Tax Bills Across Odessa, Texas
In Odessa, Ector County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in Odessa face a median property tax rate of 0.99%, which aligns with the national average. The assessed value is typically a percentage of the market value of the property, and this assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, the median home price in Odessa is $115,655, leading to varying tax bills across the city. Homeowners in the 25th percentile pay around $616, while those in the 75th percentile see bills closer to $3,443. The highest median tax bill in the area is $4,625 in the 79765 zip code, whereas the lowest is $744 in the 79766 zip code. These property taxes significantly impact homeowners, influencing both monthly budgets and long-term financial planning. Understanding these calculations can help homeowners better manage their expenses and anticipate future tax obligations.
Average Odessa Tax Bill
$1,710
Average Ector County Tax Bill
$1,683
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Odessa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79741 | N/A | N/A | N/A | N/A | N/A |
| 79758 | $541 | $898 | $1,712 | $2,549 | $3,500 |
| 79761 | $229 | $611 | $1,663 | $2,970 | $4,235 |
| 79762 | $1,064 | $1,889 | $2,925 | $4,295 | $5,918 |
| 79763 | $232 | $454 | $1,102 | $2,175 | $3,327 |
| 79764 | $199 | $380 | $815 | $1,735 | $3,198 |
| 79765 | $2,411 | $3,756 | $4,625 | $5,798 | $7,181 |
| 79766 | $196 | $348 | $744 | $1,467 | $3,335 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 22 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Ector Appraisal District | |
| Website | search.ectorcad.org |