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Property Tax Estimator
Estimate what you will owe on a home or property. Enter the assessed value, any exemption, and a rate in percent or mills to see the annual tax, a monthly figure, your effective rate, and how the bill grows over time.
Written by TopicDrill Editorial Team·Updated June 2026
Estimated tax by year
Annual tax
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How the property tax estimator works
The estimator subtracts your exemption from the assessed value to find the taxable value, then multiplies it by the rate. Rates can be entered as a percentage or in mills, where one mill is a dollar of tax per thousand dollars of value, so the tool converts whichever you choose.
Because values rarely hold still, you can add an annual growth rate. The chart then projects the tax year by year, with the shaded area showing how a rising assessment can lift your bill over a decade even if the local rate never changes.
A quick example
On a home assessed at $350,000 with a $25,000 exemption and a 1.1 percent rate, the taxable value is $325,000 and the first-year tax is about $3,575, or roughly $298 a month. With 3 percent annual value growth, that yearly bill climbs steadily across the projection horizon.
Things to keep in mind
Assessed value often differs from market value, and local rules, caps and special levies vary widely by area. For how assessments and appeals work, the USA.gov property tax guide is a neutral starting point. If you are budgeting for a purchase, pair this with our mortgage calculator.
Frequently asked questions
How is property tax calculated?
Take the assessed value, subtract any exemption, and multiply the remaining taxable value by the tax rate. If the rate is given in mills, divide it by 1,000 first. This estimator does that math and also splits the result into a monthly figure.
What is a mill rate?
A mill is one dollar of tax for every one thousand dollars of taxable value, so 10 mills equals 1 percent. Many local governments publish their rate in mills. You can switch the rate unit in this tool between percent and mills to match your bill.
What does the exemption field do?
An exemption, such as a homestead exemption, lowers the value that is actually taxed. Enter the exemption amount and the estimator subtracts it from the assessed value before applying the rate, which reduces the tax you owe.
Why does the projected tax rise over the years?
If you enter an annual value growth rate, the estimator grows the assessed value each year, so the tax grows with it. This shows how reassessments and rising home values can push your bill higher even when the rate stays the same.
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