Property Tax Calculator
Use our free Property Tax Calculator to quickly estimate your annual property taxes, based on key inputs like home value, tax rate, and exemptions. Perfect for homeowners and buyers.
Property Tax Formula
Knowing how to calculate your property tax is as simple as using this formula. Your output shows what you'll actually owe after accounting for assessment ratios and exemptions. Not a fan of doing the math? Skip the manual work and plug your numbers into our free Property Tax Calculator—you'll get instant results and see exactly how much tax you'll pay.
How this property tax calculator works
This calculator estimates your annual tax bill using the following logic: it applies your local assessment ratio to market value, multiplies by the tax rate (mill rate or %), then subtracts eligible exemptions. It's designed to provide a fast, easy way to gauge annual carrying costs.
When to use this property tax calculator
Comparing homes across neighborhoods with different tax rates
Budgeting annual housing costs beyond mortgage and insurance
Estimating the impact of exemptions (e.g., homestead, senior)
Evaluating renovations and their effect on assessed value
Planning escrow contributions for your mortgage payment
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Average Property Tax by Market
Understand how housing-related services compare across the market. Use these ranges to check whether costs and services are competitive.
Mortgage Lenders
Real Estate Brokerages
Property Management Companies
Home Insurance Providers
Construction/Contracting
Roofing Contractors
HVAC Contractors
Plumbing Contractors
These benchmarks help homeowners and buyers evaluate if their overall housing strategy is aligned with typical industry profitability and cost structures.
Frequently Asked Questions
This calculator uses your inputs and a single tax rate to provide a close estimate. Actual bills can vary by jurisdiction, assessment timing, and special levies.
Key drivers include assessed value, local tax rate, exemptions/credits, and special assessments.
Yes—divide the annual tax result by 12 to estimate your monthly escrow contribution.
Yes—enter the assessed value and applicable exemptions for the specific property type.
Exemptions reduce taxable value before the rate is applied, lowering your annual tax.
They can. Improvements may increase assessed value during reassessment.
Add the rates together to get an effective combined rate, or run separate calculations and sum the results.
Pair it with ServiceAgent.ai to automate housing cost estimates, proposals, and client reports.