Real estate & rental
Real Estate Property Tax Calculator
Property tax from assessed value and the mill rate, with exemptions applied.
Result
An arithmetic tool, not financial or legal advice. Lending criteria, tax treatment and tenancy law all vary by state and change regularly. Confirm anything that affects a decision with a lender, an accountant or an attorney. Assessment practice differs sharply by state: some assess at full market value, others at a fixed fraction, and reassessment cycles range from annual to a decade. Mill rates also combine several taxing authorities, so the total is often the sum of county, city, school and special district levies.
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About this calculator
What is a mill?
One dollar of tax per thousand dollars of assessed value. A mill rate of 21.5 means $21.50 per $1,000, or 2.15% of assessed value.
Why is my assessed value different from what I paid?
Assessments follow their own cycle and methodology, and in some states are capped in how fast they can rise. A recent purchase often triggers a reassessment, sometimes a large one.
The formula
tax = (assessed value - exemptions) / 1000 x mill rate
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