Property Tax Calculator
Estimate annual and monthly property tax based on property value, assessment percentage, tax rate, and exemptions.
How this calculator works
How to use this calculator
Enter the property value, assessment percentage, tax rate, and any exemptions. The calculator estimates annual and monthly property tax.
Formula used
Taxable Assessed Value = Property Value × Assessment Percentage − Exemptions. Property Tax = Taxable Assessed Value × Tax Rate.
Example calculation
For a $350,000 property, 100% assessment, 1.2% tax rate, and no exemption, estimated property tax is $4,200 per year, or $350 per month.
What the result means
This is an estimate. Local property tax rules, assessed values, exemptions, millage rates, and reassessments vary by jurisdiction.
Frequently asked questions
Is market value the same as assessed value?
Not always. Many areas calculate property tax using assessed value, which may differ from market value.
What is an exemption?
An exemption reduces the taxable value used for calculating property tax.
Can I use a mill rate?
Convert the mill rate to a percentage before entering it, or divide mills by 10 to get a percent.