Property tax is often the largest ongoing cost of homeownership after the mortgage. Millage rates vary by locality and are applied to the assessed value after exemptions. Our calculator gives you a realistic estimate.
Annual Property Tax:
Monthly Property Tax:
How to Use This Tool
Enter your home value (or assessed value).
Enter the millage rate per $1000 (check your county website).
Enter any homestead exemption amount.
Click Calculate to see annual and monthly property tax.
The Formula
Annual Tax = (Home Value - Exemption) x Millage Rate / 1000. Typical millage rates range from 10-50 per $1000.
Why It Matters
Your home is assessed at $300,000 with a 2.5% effective property tax rate. Your annual tax is $7,500 — $625/month added to housing cost. Compare against a $320,000 home in a 1.5% tax area ($4,800/year).