Property Tax Calculator.
Know Your Annual Cost.
Estimate annual and monthly US property taxes using assessed value, tax rates and exemptions. Understand your potential property tax costs with a clear, instant breakdown.
Estimate Property Tax
US · Custom RateEstimated market value of the property.
Percentage of market value used for assessment.
Eligible reduction in assessed value.
Enter the annual tax rate as a percentage.
Enter your local effective tax rate or combined levy. The tool does not look up rates by ZIP code.
Tax estimate as a percentage of market value.
ReadyPlan Beyond the Purchase Price
Property taxes can affect your ongoing housing costs. Use these estimates when planning a home purchase or reviewing your household budget.
Understand Assessed Value
Estimate the taxable assessment using your property value and local assessment ratio.
See Monthly Costs
Convert the annual property tax estimate into a monthly amount for budgeting.
Include Exemptions
Enter eligible assessed-value exemptions to estimate their impact on your tax bill.
How Property Tax Is Calculated
Using a Percentage Rate
Assessed Value = Market Value × Assessment Ratio
Taxable Value = Max(0, Assessed Value − Exemptions)
Annual Tax = Taxable Value × Tax Rate ÷ 100
Example: $325,000 taxable value × 1.2% = $3,900 annual property tax.
Using a Mill Rate
Annual Tax = Taxable Value × Mill Rate ÷ 1,000
A mill represents $1 of tax for every $1,000 of taxable value. A rate of 12 mills equals 1.2%.
Understanding US Property Taxes
What Is Property Tax?
Property tax is generally a local tax levied on real estate. Revenue may support public schools, roads, emergency services and other local government functions.
Market Value vs Assessed Value
Market value is an estimate of what a property could sell for. Assessed value is the value used by a taxing authority. These figures may differ because assessment methods and limitations vary.
What Are Property Tax Exemptions?
Some jurisdictions offer homestead, senior, veteran, disability or other exemptions. Eligibility and the way an exemption is applied depend on local law. This calculator assumes a dollar-value reduction to the assessed value.
How Often Are Property Taxes Paid?
Payment schedules differ by jurisdiction. Some owners pay tax bills directly, while others make monthly escrow payments through a mortgage servicer.
Why Your Actual Tax Bill May Differ
Local levies, assessment caps, special districts, exemptions, reassessments and other adjustments may change your bill. Some taxes or fees may be calculated separately.
Where Can You Find Your Property Tax Rate?
Check the local assessor, county treasurer or tax collector’s official website. A property tax notice or bill may show the assessed value, exemptions and applicable tax rates.
Property Tax Calculator FAQs
How do I calculate annual property tax?
Multiply the taxable assessed value by the applicable annual tax rate. When using a percentage, divide the rate by 100 first.
What is a mill rate?
One mill equals $1 in tax per $1,000 of taxable property value.
Is property tax based on market value?
Not always. Many jurisdictions use an assessed value that may differ from current market value.
How do I calculate monthly property tax?
Divide the estimated annual property tax by 12.
Do property tax rates vary by state?
Yes. Rates and assessment practices can vary significantly by state and local jurisdiction.
What is a homestead exemption?
It is a form of property tax relief available to eligible homeowners in some jurisdictions. Rules and benefits vary.
Does the calculator include special assessments?
No. It estimates tax using a single combined rate and a taxable assessed value.
Can I use the calculator for commercial property?
Yes, for a basic estimate if you know the correct assessment ratio, exemptions and rate for the property class.
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