Property Tax Calculator
Estimate annual and monthly property tax using your home value, local tax rate, assessment ratio, and exemptions.
Free Property Tax Calculator
This calculator helps you estimate property tax for budgeting, escrow planning, and comparing homes. Enter your assumptions and instantly see annual and monthly tax projections.
How Property Tax Is Calculated
Most jurisdictions calculate tax by multiplying taxable assessed value by a local rate. Taxable assessed value often starts from market value, then adjusts using an assessment ratio and any exemptions.
Why Assessment Ratio and Exemptions Matter
Some markets tax a percentage of market value rather than 100%. Exemptions, such as homestead programs, can reduce taxable value further. Both can materially change your annual tax bill.
Using the Estimate for Home Budgeting
Monthly tax estimates are useful when comparing renting versus buying, estimating escrow, and stress-testing affordability. Pair this tool with mortgage and affordability calculators for a fuller picture.
Frequently Asked Questions
How do you calculate property tax?
Property tax generally equals taxable assessed value multiplied by the local tax rate.
What is assessed value?
Assessed value is the value used by the taxing authority, which can differ from market value.
Do exemptions lower my tax?
Yes. Exemptions reduce taxable value before tax is applied.
Can I use this for escrow planning?
Yes. The monthly estimate can help set a practical escrow target.