Odell, Texas Property Taxes
The median property tax rate in Odell, TX is 1.95%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Odell at $36,420, the typical annual property tax bill reaches $652, which is still below the national median of $2,690. Property taxes in Odell 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 Odell'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 Odell or another part of Wilbarger County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Odell, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.95%
Estimate Property Tax Bill
$710
$659
Ownwell’s Odell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Odell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Odell 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 Odell, Texas
Property taxes in Odell, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Odell is 1.95%, significantly higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Odell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Odell 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 Odell's effective property tax rate to other counties in Texas and the national median. For comparison, the 79247 zip code has both the highest and lowest median property tax rate of 1.95%. Understanding how these cities compare with Odell provides valuable insights into the varying tax landscape across Wilbarger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odell Tax Rate
1.95%
Average Wilbarger County Tax Rate
1.98%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79247 | 1.43% | 1.66% | 1.95% | 1.95% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Odell, Texas
In Odell, 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 Wilbarger 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 Odell, 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 Odell is $36,420, with tax bills ranging from $221 at the 25th percentile to $983 at the 75th percentile, and $1,206 at the 90th percentile. The highest and lowest median tax bills in the area are both $652, found in zip code 79247. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Odell Assessed Value
$36,420
Average Wilbarger County Assessed Value
$62,920
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79247 | $5,498 | $11,865 | $36,420 | $56,290 | $86,098 |
Source: Ownwell
Property Tax Bills Across Odell, Texas
In Odell, located in Wilbarger County, TX, property tax bills are calculated based on the assessed value of your property and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of your home. For instance, with a median home price of $36,420, the tax bill can vary significantly. Factors influencing your tax bill include the property's assessed value, the local tax rate, and any applicable exemptions. In Odell, the tax bill at the 25th percentile is $221, while at the 75th percentile, it rises to $983. The 90th percentile tax bill reaches up to $1,206. These variations highlight how different property values and exemptions can impact the amount homeowners owe. Compared to the national median property tax rate of 0.99%, Odell's rates can be relatively lower, providing some relief to homeowners. However, property taxes remain a critical consideration for budgeting and financial planning.
Average Odell Tax Bill
$652
Average Wilbarger County Tax Bill
$986
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Odell, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79247 | $105 | $221 | $652 | $983 | $1,206 |
Source: Ownwell