Odessa, Washington Property Taxes
The median property tax rate in Odessa, WA is 1.34%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Odessa at $73,000, the typical annual property tax bill reaches $914, exceeding the national median of $2,690. Property taxes in Odessa 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 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, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$978
$956
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, Washington
Property taxes in Odessa, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Odessa is 1.34%, significantly 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 99159 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Odessa provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Odessa Tax Rate
1.34%
Average Lincoln County Tax Rate
1.10%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Odessa, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99159 | 0.28% | 1.34% | 1.34% | 1.34% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Odessa, Washington
In Odessa, Washington, 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 Lincoln 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. 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 highest and lowest median tax bills in Odessa are both $914, located in zip code 99159.
Average Odessa Assessed Value
$73,000
Average Lincoln County Assessed Value
$68,575
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Odessa, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99159 | $14,148 | $45,000 | $73,000 | $110,200 | $162,500 |
Source: Ownwell
Property Tax Bills Across Odessa, Washington
In Odessa, located in Lincoln County, WA, property tax bills are calculated based on the assessed value of the property. The county assessor determines this value, which is intended to reflect the market value of the property. Homeowners in Odessa can expect their property tax bills to vary significantly depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $345, while at the 75th percentile, it reaches $1,431, and at the 90th percentile, it climbs to $2,168. The median home price in Odessa is $73,000, and the median property tax bill is $914. This is relatively lower compared to the national median property tax rate of 0.99%. These property tax bills fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Homeowners should be aware of how these taxes are calculated as it significantly affects their annual expenses.
Average Odessa Tax Bill
$914
Average Lincoln County Tax Bill
$618
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Odessa, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99159 | $37 | $345 | $914 | $1,431 | $2,168 |
Source: Ownwell