Tool
Property Tax Estimator
Estimate annual property tax from assessed value and tax rate.
Real Estate Calculators
What this tool does
Estimate annual property tax liability from assessed value and a local millage or percentage rate. Useful for ownership cost budgeting.
How to use
- Enter assessed value or estimated taxable value.
- Enter the local effective tax rate as a percentage.
- Review annual tax estimate and add to monthly housing budget.
Formula
annual property tax = assessed value × (tax rate ÷ 100)
Examples
1.2% effective rate
Input: Assessed value: $300,000, Tax rate: 1.2%
Output: Estimated annual property tax: $3,600.00
300,000 × 0.012 = $3,600 annual tax.
Assumptions
- Tax rate is entered as an effective annual percentage.
- Exemptions, special assessments, and mello-roos are not included.
- Estimate only. Actual tax bills vary by jurisdiction and reassessment cycles.
Common use cases
- Budget total monthly housing costs
- Compare ownership costs across municipalities
- Estimate expenses for rental property underwriting
FAQ
Is assessed value the same as market value?
Not always. Many jurisdictions assess below or above recent sale prices.
Do exemptions apply?
Homestead, senior, and other exemptions can reduce taxable value. This tool does not model them.
Is this official tax advice?
No. Verify rates and assessments with your county assessor or tax authority.
Source notes
- Annual tax = assessed value multiplied by effective tax rate.
- Use official county assessor data for purchase and refinance decisions.
Explore related workflows
Related investment metrics
Last reviewed: 2026-05-23