Property Tax Calculator
Annual and monthly property tax.
Reviewed by James Whitfield · How we check our maths
Your values
ⓘ Live results
Results
- Annual property tax
- $4,260.00
- Monthly escrow
- $355.00
- Taxable value
- $355,000.00
- Mill rate equivalent
- 12 mills
- Exemption saving
- $300.00
Quick answer
Property tax equals assessed value minus exemptions, times the local tax rate or mill levy.
The formula
Tax = (Assessed − Exemption) × Rate
Worked example
Worked example
Using the values the calculator loads with.
Inputs
- Assessed value380000 $
- Tax rate1.2 %
- Exemptions25000 $
Result
- Annual property tax$4,260.00
- Monthly escrow$355.00
- Taxable value$355,000.00
- Mill rate equivalent12 mills
- Exemption saving$300.00
How to use the Property Tax Calculator
- 1Enter the assessed value from your tax notice.
- 2Enter your local rate or convert mills by dividing by 10.
- 3Subtract homestead or senior exemptions.
Frequently asked questions
Is assessed value the same as market value?
Often not — many counties assess at a fixed ratio of market value.
Can I appeal?
Yes, most jurisdictions allow an appeal within a set window after assessment.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error