Property Tax Calculator
Convert an assessed value and tax rate or mill levy into your annual and monthly property tax bill.
Your details
Percent of market value that is taxable. Many states assess at less than 100%.
Adjustments
This calculator runs entirely on your device. Nothing you enter is uploaded, stored, or sold. How this works
Annual property tax
$4,950
$412.50 per month escrowed
Includes your inputs, the full breakdown, and every row of the table.
Taxable assessed value
$450,000
Effective rate on market value
1.100%
Monthly escrow
$412.50
Next 10 years of tax
$58,449
At 3.0% annual growth
- Market value
- $450,000
- Assessed at 100%
- $450,000
- Taxable value
- $450,000
- Tax at 1.100%
- $4,950
What this means
- A mill is one dollar of tax per $1,000 of assessed value, so 11 mills equals 1.1%.
- Assessment ratios and exemption rules vary by state and county. Check your assessor's website for the exact numbers that apply to your parcel.
How the property tax calculation works
Property tax is calculated from three numbers: the assessed value of your property, the assessment ratio your state applies to market value, and the tax rate set by the overlapping jurisdictions you live in — county, city, school district, fire district, and sometimes more. The combined figure is often quoted as a percentage, but many jurisdictions still publish it as a mill levy.
Because the tax scales with assessed value, rising home prices increase your bill even when the rate never changes. Many states cap how fast the assessed value can grow for owner-occupants, which is why two identical houses on the same street can have very different tax bills.
Frequently asked questions
What is a mill rate?
One mill equals $1 of tax per $1,000 of assessed value. To convert mills to a percentage, divide by 10 — a 15 mill levy is 1.5%.
Can I appeal my assessment?
Yes. Most counties allow an appeal within a set window after assessments are mailed. The strongest evidence is recent sales of comparable properties at lower prices per square foot than your assessed value implies.
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Disclaimer. This calculator is provided for general information and educational purposes only and does not constitute financial, tax, legal, medical, or engineering advice. Results are estimates based on the inputs you provide and the assumptions described above. Confirm any figure with a qualified professional before acting on it.