Property Tax Calculator
Calculate your property tax broken down by county, city, school district, and special district — and see how changes in your home's assessed value affect your annual bill.
Property Value
Tax Rates (mills)
Annual Income
How to Use
- 1Enter your property's market value and assessment ratio — if your jurisdiction assesses at 100% of market value, leave the ratio at 100%; some states use 80%, 70%, or even lower.
- 2Enter your tax rates in mills for each jurisdiction — you can find these on your annual property tax bill or your county assessor's website.
- 3Enter your homestead exemption dollar amount if applicable — this reduces your taxable value and lowers your bill, and is available in most states for primary residences.
- 4Review the assessment change table to see how a 5%, 10%, or 20% increase in your assessed value would change your annual bill — useful for budgeting after reassessments.
Example Calculation
Inputs
Market Value: $400,000 | Ratio: 100% | Exemption: $25,000 | County: 8.5 | City: 6.2 | School: 12.8 | Other: 2.5 | Income: $90,000
Taxable Value
Verified Results
Assessment Change Scenarios
"The school district levy (12.8 mills) is the largest single component at 42.67% of your total bill — typical of most US jurisdictions. The homestead exemption of $25,000 saves $750.00/year at the 30.0 mill rate."
Frequently Asked Questions
Q1: What is a mill rate and how is it calculated?
A1: A mill is one-thousandth of a dollar — so a mill rate of 1.0 equals $1.00 in tax per $1,000 of taxable value. To calculate your tax: multiply your taxable value by the mill rate, then divide by 1,000. At 30.0 mills on $375,000: $375,000 × 30.0 / 1,000 = $11,250.00. Many tax bills express the rate as a percentage instead — simply divide mills by 10 to convert (30.0 mills = 3.0% of taxable value).
Q2: What is an assessment ratio and why does it matter?
A2: The assessment ratio is the percentage of market value that your local government uses to set the taxable assessed value. A 100% ratio means assessed value equals market value. If your state uses an 80% ratio, a $400,000 home is assessed at $320,000. This matters because your tax bill is calculated on the assessed value, not the market value. Even with a lower ratio, the mill rate is often higher to compensate, so the effective rate (tax / market value) is what matters most for comparing jurisdictions.
Q3: What is a homestead exemption?
A3: A homestead exemption is a dollar amount or percentage deducted from your assessed value before calculating taxes, available in most states for primary residences. On a $400,000 home with a $25,000 exemption and 30.0 mill rate, it saves $25,000 × 30 / 1,000 = $750.00 per year. Exemption amounts vary widely — Florida offers up to $50,000, Texas has no cap for some seniors, while other states offer a flat $5,000-$25,000.
Q4: Why does the effective tax rate increase with higher home values?
A4: The fixed homestead exemption becomes a smaller proportion of taxable value as the home value increases, so the tax grows faster than the home price. At $200,000 with a $25,000 exemption, 87.5% of the home is taxable — giving a 2.625% effective rate. At $800,000, 96.875% is taxable — giving a 2.906% effective rate. The exemption has diminishing impact on more expensive homes.
Q5: How does a reassessment affect my property tax?
A5: Reassessments adjust your home's assessed value to reflect current market conditions. Using the example inputs, a 10% increase in assessed value raises your annual bill from $11,250 to $12,450 — a $1,200 increase (+10.67%). Note the percentage increase in tax (10.67%) is slightly higher than the value increase (10%) because the $25,000 homestead exemption is fixed, so the taxable portion grows by a larger percentage. If you believe your assessment is too high, you can appeal to your local assessor.
This calculator provides estimates for informational purposes only. Actual property tax rates and exemptions vary by state, county, and local jurisdiction. Consult your local assessor's office for official tax information.