Property Tax Calculator

Estimate your annual and monthly property tax based on home value, assessment rate, tax rate, and exemptions. Understand your effective property tax rate.

This calculator estimates property tax in three steps. Assessed Value is home value times the assessment rate (line 9) -- the percentage of market value your county actually taxes against, since most counties assess below full market value. Any exemptions you enter are then subtracted, floored at zero (line 10), before Annual Property Tax applies the tax (mill) rate to what's left (line 11). With no exemptions entered (the default), Annual Property Tax is a pure three-way product of home value, assessment rate, and tax rate, so all three move the tax bill by an equal share for an equal percentage change -- none of the three structurally outweighs the others. Assessed Value, by contrast, only responds to home value and assessment rate; the tax rate has no effect on it at all, since assessed value is computed before any rate is applied. Effective Tax Rate -- annual tax as a percentage of home value -- works the opposite way: with no exemptions, home value cancels out of that ratio entirely, leaving assessment rate and tax rate as the only two inputs that move it. Once you enter exemptions large enough to exceed the assessed value, taxable value floors at zero and the tax bill drops to zero regardless of the other three inputs. This is a simplified estimate; actual property tax also depends on local caps, phase-in rules, and reassessment schedules this model doesn't include.