Property Tax Calculator

Estimate the yearly and monthly property tax on a home from its assessed value and local rate.

Your details

Assessed value$Your local assessor's value, which may differ from market price.Property tax rate%Effective annual rate. US average is around 1.1%.

Annual property tax

$4,400.00

Monthly (escrow): $366.67

Annual property tax$4,400.00

Formula

Property tax = assessed value × tax rate. The monthly figure is that amount divided by 12 (what a lender escrows).

How it works

Your local government sets an assessed value for your home and an annual tax rate (sometimes called a millage rate). Multiply the two for the yearly bill; lenders usually collect one-twelfth of it with each mortgage payment and hold it in an escrow account.

Frequently asked questions

Is assessed value the same as market value?⌄

Often not. Many jurisdictions assess at a fraction of market value, or cap how fast an assessment can rise, so the assessed value can differ significantly from what the home would sell for.

What is a millage rate?⌄

A millage rate expresses property tax in dollars per $1,000 of assessed value. A rate of 20 mills equals 2% of assessed value.

Can I lower my property tax?⌄

You may qualify for exemptions (homestead, senior, or veteran), or you can appeal an assessment you believe is too high. Rules and deadlines vary by locality.

Sources & methodology

Uses an effective rate on assessed value. Local exemptions and assessment ratios vary.

•Tax Foundation — property taxes — Tax Foundation

Last updated: 2026-07-20

Also on your phone

Numveo for Android

200+ financial calculators — mortgage, loans, taxes, retirement. Fast, private, and fully offline.

GET IT ONGoogle Play

By state

State-specific versions with local tax rates prefilled.

Learn more

How Property Taxes Work (Assessed Value & Mill Rate)Property tax explained: how assessed value and the mill rate set your bill, why it differs from market value, and how exemptions and appeals lower it.What Is an Escrow Account (Mortgage Escrow)Mortgage escrow explained: how lenders collect property tax and insurance monthly, the annual escrow analysis, shortages, and when escrow is required.

Embed this calculator⌄

Paste this into your page — it works with no key and computes in the visitor's browser. The short credit line links back to Numveo; please keep it.

<iframe src="https://numveo.com/embed/property-tax-calculator" width="100%" height="640" style="border:0" loading="lazy" title="Property Tax Calculator"></iframe>
<p style="font:13px/1.5 system-ui,sans-serif;color:#52514e;margin:6px 0"><a href="https://numveo.com/taxes/property-tax-calculator" target="_blank" rel="noopener">Property Tax Calculator</a> by <a href="https://numveo.com" target="_blank" rel="noopener">Numveo</a></p>