How to estimate property tax
Apply the local assessment rules to the market value.
1
Enter the market value
Use a realistic sale value or the local assessed value.
2
Set the assessment ratio
Many jurisdictions tax a percentage of market value rather than the full amount.
3
Choose the rate format
Enter a percentage or a mill rate per $1,000 of assessed value.
What does this tool do?
Property tax is usually assessed value times a local rate. Assessment ratios and exemptions mean the taxable value can differ from the market price.
The Formula
Tax = Max(0, Market value × Assessment ratio − Exemption) × RateFrequently Asked Questions
Why is the tax bill different from this estimate?
Assessment ratios, exemptions, caps and special district levies vary. The tax bill is the authoritative figure.
Can an assessment be appealed?
Often yes. Check the local process and deadline, and compare with recent comparable sales.