🧾 Property Tax Calculator
Enter the assessed value and either a mill rate or a percentage, subtract any exemptions, and estimate your annual and monthly property tax plus the effective rate on your home.
🏛️ Value, Rate & Exemptions
What is a Property Tax Calculator?
It turns an assessed value and a local tax rate into the annual and monthly tax you can expect to pay. It accepts a mill rate or a flat percentage, subtracts any exemptions you qualify for, and reports the effective rate — the share of your home's assessed value that goes to tax each year — so you can compare one area against another on equal terms.
Use it to factor taxes into a mortgage budget, weigh homes in different counties, or estimate the impact of a new exemption. The results are estimates for planning — verify the rate and assessment with your local tax authority.
❓ Frequently Asked Questions
What is a mill rate, and how does it differ from a percentage?
A mill rate is the tax charged per $1,000 of taxable value — 20 mills means $20 of tax for every $1,000. It's the same idea as a percentage (20 mills equals 2%), just expressed differently. Many U.S. counties publish mill rates while others quote a percentage, so this calculator accepts either; if you have a mill rate, use that for the most accurate result.
How do exemptions lower my property tax?
Exemptions — such as a homestead, senior, or veteran exemption — reduce the taxable value before the rate is applied, so they directly cut your bill. This calculator subtracts your total exemptions from the assessed value first, then taxes the remainder. The effective-rate figure it reports is still measured against the full assessed value, which is the most honest way to compare neighborhoods.
Is assessed value the same as market value?
Usually not. Many jurisdictions assess at a fraction of market value (an assessment ratio) or cap how fast the assessed value can rise. Enter the assessed value from your tax bill or assessor's record — not the price you'd list the home for — to get a realistic estimate.
Will this match my actual tax bill?
It's a close planning estimate, but verify with your local tax authority. Special district levies, school bonds, and one-off assessments can add to the base amount, and rates are reset periodically. Treat the result as a ballpark for budgeting, not the final assessed figure.