Property Tax Calculator
Calculate annual and monthly property tax based on assessed value
About This Calculator
The Property Tax Calculator estimates your annual and monthly property taxes based on the assessed value of your property and the local tax rate.
How It Works
- 1
Enter the assessed value of your property.
- 2
Input the property tax rate (typically expressed as dollars per $1000 of assessed value).
- 3
The calculator computes annual and monthly property tax amounts.
Formula Explanation
Annual Property Tax = (Assessed Value × Tax Rate) / 1000Multiply the assessed value by the tax rate, then divide by 1000 to get the annual property tax amount.
Monthly Property Tax = Annual Property Tax / 12Divide the annual property tax by 12 to get the monthly amount.
Tips
Property tax rates vary significantly by location and can change annually.
Assessed value may differ from market value - check with your local assessor.
Property taxes are typically paid through escrow as part of your mortgage payment.
Some areas offer property tax exemptions for seniors, veterans, or primary residences.