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Property Tax Calculator

Estimate the property tax on a home. Enter the market value, assessment ratio, any exemption and your local rate or mill rate, then press Calculate to see the annual and monthly bill plus a multi-year projection.

Written by TopicDrill Editorial Team·Updated June 2026

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Property details

Enter your home and rate details, then press Calculate.

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Estimated annual tax

$3,575

$298 / month · 1.02% of market value

Assessed value$350,000
Taxable value$325,000
Annual tax$3,575

Projected annual tax

Tax billover 10 yr
$0$1.2k$2.4k$3.6k$4.7k1 yr3 yr5 yr7 yr9 yr10 yr

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How the property tax calculator works

Property tax is a yearly charge levied by your local government on the value of real estate you own. The bill comes from three numbers: the assessed value of your home, any exemptions that lower it, and the tax rate set by your county, city and school district. This calculator takes your market value, applies the assessment ratio to get the assessed value, subtracts your exemption to reach the taxable value, and multiplies by the rate.

Rates are quoted two ways. A percentage rate is applied directly to taxable value, while a mill rate charges one dollar per $1,000 of value — eleven mills and 1.1 percent are the same thing. Pick whichever your assessor uses so the estimate matches your statement.

A quick example

Suppose your home has a market value of $350,000, your county assesses at full value, you qualify for a $25,000 homestead exemption, and the combined rate is 1.1 percent. The taxable value is $325,000, so the annual tax is about $3,575, or roughly $298 a month. Raise the appreciation assumption and the projection chart shows how the bill drifts up as your home gains value over the years.

Ways to lower a property tax bill

Check that your assessed value is accurate — assessors make mistakes, and you can appeal an over-assessment. Claim every exemption you qualify for, such as homestead, senior, veteran or disability relief. For the official rules in your area, your county assessor's website is the authority. Once you know the annual cost, our mortgage calculator can fold it into a full monthly housing payment.

Frequently asked questions

How is property tax calculated?

Property tax is the taxable value of your home multiplied by the local tax rate. The taxable value is usually your home's market value times an assessment ratio, minus any exemptions. So if a $350,000 home is assessed at 100 percent with a $25,000 exemption and a 1.1 percent rate, the tax is ($350,000 − $25,000) × 1.1% = $3,575 a year.

What is a mill rate?

A mill is one dollar of tax per $1,000 of taxable value, so a mill rate of 11 mills equals 1.1 percent. Many counties quote rates in mills rather than percent. This calculator accepts either — switch the rate type and enter the number exactly as your assessor states it.

What is an assessment ratio?

Some jurisdictions tax only a fraction of a home's market value. An assessment ratio of 80 percent means a $400,000 home is assessed at $320,000 before the rate is applied. If your area taxes full market value, leave the ratio at 100 percent.

Why does my real tax bill differ from this estimate?

This is an estimate. Actual bills can include special district levies, school or municipal add-ons, and exemptions that vary by owner (homestead, senior, veteran, disability). Always confirm the exact figure with your county assessor or tax collector.

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