Property Tax Calculator
Calculate your annual and monthly property tax based on the assessed value and local tax rate.
Property Tax Calculator
Calculate your annual and monthly property tax based on the assessed value and local tax rate.
Real-World Examples
Assessed value: $350,000, rate: 1.1%
Annual tax: $3,850 ($321/month)
Assessed value: $500,000, rate: 2.3%
Annual tax: $11,500 ($958/month)
Assessed value: $400,000, rate: 0.5%
Annual tax: $2,000 ($167/month)
Common Mistakes to Avoid
Using market value instead of assessed value
Fix: Property tax is based on the assessed value determined by the local tax assessor, which may be lower or higher than market value. Check your tax bill or assessor records for the correct figure.
Forgetting that rates vary by jurisdiction
Fix: Property tax rates differ by state, county, city, and school district. Even within one city, rates can vary by neighborhood and special assessments. Always use your specific local rate.
Ignoring exemptions and homestead credits
Fix: Many jurisdictions offer homestead exemptions, senior exemptions, or veteran credits that reduce the taxable value. Subtract these before applying the rate for an accurate estimate.