Free property tax calculator. Estimate your annual property tax bill based on assessed value, millage rate, and applicable exemptions. Compare effective tax rates, see monthly breakdowns, and plan your housing budget with accuracy.
Select your calculation mode: "Calculate Tax from Rate" to find your annual property tax, or "Calculate Rate from Tax" to find the effective rate you are paying.
Enter your assessed property value — this is the value determined by your local tax assessor, which may differ from the market value of your home.
Choose the tax rate format: percentage (e.g., 1.2%) or mills (e.g., 12 mills, where 1 mill = $1 per $1,000 of assessed value). Set the assessment ratio if your jurisdiction uses one (default 100%).
Enter any applicable exemptions such as homestead, senior, or disability exemptions that reduce your taxable value.
Click "Calculate" to see your annual and monthly property tax, effective tax rate, and a comparison with other jurisdictions.
When using millage rates, 1 mill equals $1 of tax per $1,000 of assessed value. For example, a property assessed at $200,000 with a millage rate of 20 mills pays $200,000 × (20 / 1,000) = $4,000 per year. When using percentage rates, the calculation is simpler: a $200,000 property at a 1.5% tax rate pays $200,000 × 0.015 = $3,000. The assessment ratio adjusts the market value to the taxable assessed value — for example, a 60% assessment ratio on a $500,000 home means you are taxed on $300,000. Exemptions are then subtracted from the taxable value before applying the rate.
A home assessed at $300,000 with a tax rate of 1.2% and a $25,000 homestead exemption. Taxable value = $300,000 - $25,000 = $275,000. Annual tax = $275,000 × 0.012 = $3,300. Monthly tax = $3,300 / 12 = $275. Effective rate on assessed value = 1.10%. Tax as a percentage of market value = 1.10%.
A property with a market value of $500,000, an 80% assessment ratio, and a millage rate of 25 mills. Assessed value = $500,000 × 0.80 = $400,000. Annual tax = $400,000 × (25 / 1,000) = $10,000. Monthly tax = $10,000 / 12 = $833.33. Effective rate = 2.5%. Tax as a percentage of market value = 2.0%.
A condo assessed at $150,000 with no exemptions and a millage rate of 18 mills. Annual tax = $150,000 × (18 / 1,000) = $2,700. Monthly tax = $2,700 / 12 = $225. The effective tax rate is 1.8%. At this relatively modest rate, annual property tax costs represent about 1.8% of the property value — helpful for budgeting mortgage escrow payments.
Find answers to the most common questions about property tax calculator.
Assessed value is the dollar value assigned to your property by a local government tax assessor for the purpose of calculating property taxes. It is often a percentage of the fair market value — the price your home would sell for on the open market. For example, if your home's market value is $400,000 and your jurisdiction uses a 60% assessment ratio, the assessed value would be $240,000. Many states reassess properties periodically (every 1-5 years), and the assessed value may lag behind current market conditions. You can usually find your assessed value on your property tax bill or your county assessor's website.
A millage rate (or mill rate) is a tax rate expressed in mills, where 1 mill equals $1 of tax per $1,000 of assessed value. For example, if your home is assessed at $200,000 and the millage rate is 20 mills, your annual property tax is $200,000 × (20 / 1,000) = $4,000. To convert mills to a percentage, divide by 10: 20 mills = 2.0%. Millage rates are commonly used in the United States, particularly for local government levies such as school districts, county governments, and municipal services. Multiple millage rates are often combined to form your total property tax rate.
A homestead exemption is a legal provision that reduces the taxable value of a primary residence, thereby lowering the property tax bill. The amount varies widely by state and locality — some states offer a flat dollar amount (e.g., $25,000 in Florida), while others offer a percentage reduction. Many states also offer additional exemptions for seniors, disabled persons, veterans, and surviving spouses. To qualify, the property must be your primary residence. You typically need to apply through your county tax office, and the exemption renews automatically in most jurisdictions. Homestead exemptions can save homeowners hundreds to thousands of dollars per year.
If you believe your property is over-assessed, you can file an appeal with your local tax board or assessment office. The process typically involves: (1) Review your assessment notice for the assessed value and deadlines. (2) Gather evidence such as recent comparable sales in your neighborhood, an independent appraisal, or documentation of property condition issues. (3) File a formal appeal before the deadline, which varies by jurisdiction (often 30-90 days after receiving your assessment notice). (4) Attend the hearing and present your case. Many jurisdictions settle a significant percentage of appeals in the homeowner's favor. Even a small reduction in assessed value can save hundreds of dollars annually.
Commercial property (offices, retail, industrial) is typically taxed at a higher effective rate than residential property. In many jurisdictions, commercial properties are assessed at a higher ratio of market value, or a separate (higher) tax rate is applied. For example, a city might assess residential properties at 25% of market value but commercial properties at 50%. Some states also levy additional taxes on commercial properties, such as business personal property taxes on equipment and furniture. The difference in tax treatment is one reason commercial real estate investors carefully model property tax expenses in their financial projections.
Failing to pay property taxes can have serious consequences. After a grace period (typically 30-60 days past the due date), penalties and interest begin accruing — often at rates of 10-18% or more per year. If taxes remain unpaid for an extended period (usually 1-3 years depending on the state), the taxing authority can place a tax lien on the property. A tax lien is a legal claim against the property for the unpaid amount. In some states, the lien can be sold to investors at auction. If the tax lien is not redeemed within the redemption period, the lien holder may initiate foreclosure proceedings, which can result in the loss of the property. If you are struggling to pay, contact your tax office early — many offer payment plans, deferrals for seniors, or hardship exemptions.
