Property Tax Calculator
Estimate your annual, monthly, and quarterly property tax bill based on assessed value, mill rate, and assessment ratio.
Results
What is it?
Property tax is an annual tax levied by local governments on real estate. It is calculated by applying a tax rate to the assessed value. Many jurisdictions assess at less than full market value; the assessment ratio captures this discount.
How to use
Enter the assessed property value shown on your tax bill (or enter market value and set the assessment ratio). Enter the tax rate; if given as a mill rate, divide by 10 to convert (e.g., 12 mills = 1.2%). The calculator returns the annual bill plus monthly and quarterly breakdowns for escrow budgeting.
Example scenario
Home assessed at $280,000, tax rate 1.5%, assessment ratio 80%: effective assessed value = $224,000. Annual tax = $224,000 x 1.5% = $3,360. Monthly escrow = $280.
Pro tip
If you believe your assessed value is too high, appeal it within 30-90 days of receiving the assessment notice. Gather recent comparable sales and request a review. A successful appeal reduces your tax bill permanently. Also check for homestead, senior, veteran, or disability exemptions.