Property Tax Calculator (US)

This property tax calculator estimates US-style annual and monthly property tax from a property value and local tax rate. It is useful when comparing homes, planning escrow payments, or preparing the tax input for the mortgage PITI and escrow calculator.

Property tax is usually set locally, so two homes with the same market value can have very different annual bills. County, city, school district, exemptions, assessment rules, and special levies can all affect the final amount.

This is not a UK council tax calculator and it is not a stamp duty calculator. UK council tax is based on local authority bands, while stamp duty is a transaction tax paid around purchase, not an annual property tax estimate.

Market value is what a property might sell for. Assessed value is the value assigned by the local assessor for tax purposes. Taxable value is the amount left after assessment rules, caps, exemptions, or local adjustments are applied.

In some places the assessed value is close to market value. In others, the assessor uses an assessment ratio, such as 80% of market value, before exemptions are applied. A $400,000 home at an 80% assessment ratio starts with a $320,000 assessed value.

Use taxable value if it is shown on a bill or assessment notice. Use assessed value if taxable value is not available. Use market value only as a rough fallback when you do not yet have local assessment details.

Many US property tax bills use millage rates. One mill means $1 of tax for every $1,000 of taxable value. That is the same as 0.1%. So 20 mills equals 2.0%.

A local rate may combine several pieces: county, city, school district, fire district, library district, parcel charges, or special assessments. That is why a single statewide average can be a poor estimate for a specific address.

If your local source gives a percentage, enter the percentage directly. If it gives mills, divide by 10 to get the percentage. For example, 18.5 mills is 1.85%.

If a home is assessed at $350,000 and the local property tax rate is 1.2%, the estimated annual property tax is $4,200. Divided monthly, that is about $350 before any exemptions, caps, special assessments, or escrow adjustments.

For a millage example, a taxable value of $350,000 at 20 mills uses a 2.0% tax rate. The annual estimate is $7,000, or about $583.33 per month before escrow adjustments.

County differences can be large. A $350,000 taxable value at 0.7% is $2,450 a year. The same taxable value at 2.2% is $7,700 a year. That $5,250 annual gap is $437.50 per month.

This monthly view matters because buyers often focus on the mortgage payment alone. Property tax can materially change the true cost of owning a home, especially in high-tax counties.

Your bill may change when the property is reassessed, when local tax rates change, when exemptions expire, or when new levies are approved. A newly purchased home may also be reassessed closer to sale price, which can raise the bill after purchase.

For homebuyers, it is worth checking the local assessor or county tax office rather than relying only on the seller's old bill. The previous owner's exemptions or assessed value may not apply to you.

Use the calculator as a planning estimate, then verify the exact rules with the local authority. If taxes are paid through escrow, remember that lenders may adjust the monthly escrow amount when the actual bill changes.

Annual property tax is the bill estimate. Monthly property tax is the annual estimate divided by 12 for budgeting. Escrow is the lender-managed monthly collection for taxes and insurance, and it can change after the actual bill arrives.

When comparing homes, include property tax alongside mortgage, insurance, HOA fees, utilities, maintenance, and commuting costs. A lower-priced home in a higher-tax area is not always cheaper month to month.

Use this calculator for a simple US property tax estimate from taxable value or assessed value, annual property tax rate, and an optional monthly mortgage payment.

The component estimates annual property tax, monthly property tax, and monthly mortgage plus tax when a mortgage payment is entered.

It does not look up county rates, assessment ratios, exemptions, special districts, escrow rules, or reassessment schedules.

Use mortgage calculator for principal-and-interest payment planning, or use mortgage PITI and escrow when you want property tax, insurance, PMI, and estimated escrow in one US housing payment.

This page is not for UK council tax bands or stamp duty. For UK purchase tax, use stamp duty; for UK monthly ownership costs, use UK mortgage total monthly cost.

Label saved scenarios with the assessed value, taxable value, and tax rate because those usually matter more than purchase price alone.

Enter taxable value if your county or assessor notice shows it. That is usually the closest input to the actual bill because exemptions and caps may already be reflected.

If taxable value is not available, use assessed value. Assessed value is the assessor's tax value and may be different from the sale price or market value.

Market value is only a fallback. A home may sell for $500,000 but be taxed on a lower assessed or taxable value, especially where assessment ratios, homestead exemptions, senior exemptions, or reassessment caps apply.

Assessment ratio is the bridge between market value and assessed value in some jurisdictions. If a $400,000 home is assessed at 80% of market value, the assessed value is $320,000 before exemptions.

A millage rate is tax per $1,000 of taxable value. One mill equals 0.1%, so 10 mills equals 1.0% and 20 mills equals 2.0%.

Example: $350,000 of taxable value at 20 mills is the same as $350,000 at 2.0%, giving an estimated $7,000 annual property tax.

If a county rate is shown as 14.25 mills, enter 1.425% in the calculator. If the rate is already shown as 1.2%, enter 1.2.

Using market value when the local tax bill is based on assessed value, taxable value, or an assessment ratio.

Assuming the entered rate includes every local levy, school district charge, special assessment, or parcel tax.

Forgetting exemptions, caps, senior relief, homestead treatment, or reassessment after purchase.

Treating monthly mortgage plus tax as full PITI. Insurance, HOA dues, PMI, escrow changes, and utilities are outside this component.

Using this page to estimate rental taxable income. Rental income tax belongs on the rental income tax calculator.

Example: enter a $350,000 property value and a 1.2% annual property tax rate.

The calculator estimates annual property tax of $4,200, divides it into a monthly tax amount of $350, and shows the effective tax rate used.

Millage example: 20 mills equals 2.0%. On a $350,000 taxable value, that gives an estimated $7,000 annual tax, or about $583.33 per month.

County comparison: a $350,000 taxable value at 0.7% gives $2,450 a year, while the same taxable value at 2.2% gives $7,700 a year. The house price is the same, but the local rate changes the monthly ownership cost by $437.50.

If you also enter a monthly mortgage payment, it shows mortgage plus property tax for a rough housing-cost view.

Change the tax rate separately from the property value so you can see whether higher tax comes from assessment, local rate, or both.

Use mortgage calculator for principal-and-interest payment before adding a property tax estimate here, or use mortgage PITI and escrow for a full US monthly mortgage payment with taxes and insurance.

Use rent vs buy when the decision is whether buying beats renting over time.

Use rental income tax for rental income, expenses, depreciation, and estimated tax owed.

Use itemized vs standard deduction only when you need to consider whether property tax may matter for itemized deductions.

For wider ownership context, read the mortgage and home buying property costs guide or the PITI and escrow explainer.

Check the local assessed value, not only the listing price or purchase price.

Check whether the rate entered includes county, city, school, and special district charges.

Check whether exemptions, caps, reassessment, or escrow timing make the first-year bill different from the simple estimate.

Rerun this property tax calculator when assessed value, local rate, exemptions, or mortgage payment changes.

Recheck after receiving an assessment notice or escrow analysis because those documents can move monthly housing cost.

If this estimate differs from a tax bill, trace assessed value, taxable value, rate, exemptions, and special charges separately.