Where do I find my assessment rate and tax rate?

Both appear on the annual assessment or tax notice from your county or municipal assessor, and most assessors publish them online. Guessing either number makes the result meaningless, since the two together determine the entire bill.

How do I convert a millage rate?

One mill is $1 of tax per $1,000 of assessed value, which is 0.1%. A rate of 15 mills is therefore 1.5%, and 22.5 mills is 2.25%. Enter the percentage rather than the mill figure itself.

Does this include homestead or senior exemptions?

No. Exemptions for a primary residence, seniors, veterans, or people with disabilities reduce the taxable assessed value and can be substantial. None have an input here, so subtract an exemption from the value you enter to approximate the effect.

Why is my actual bill higher than this estimate?

Most bills combine several overlapping levies, including county, municipal, school district, and special assessments for services such as fire or drainage. This tool applies one combined rate, so entering a single component understates the total.

Is property tax deductible on a federal return?

It can be, as part of the state and local tax deduction for taxpayers who itemise, and that deduction has been subject to an annual cap. This calculator does not model the deduction, so treat the figure here as the gross cost.

Does the monthly figure match my mortgage escrow?

Only approximately. Servicers collect a cushion and adjust after each annual escrow analysis, so the escrow line usually sits slightly above one twelfth of the bill. The annual figure is the better one to compare against.

How often do these numbers change?

Assessed values are updated on a local reassessment cycle, which can be annual or several years apart, while rates are set each budget year. Re-run the calculation whenever a new notice arrives rather than carrying last year forward.

Can I use this for property outside the United States?

The arithmetic of value times ratio times rate is generic, but the terminology, exemptions, and billing cycles here are American. Pakistani property taxes are administered provincially and are covered by TaxEase paid services instead.

Property Tax Calculator by Assessed Value and Tax Rate

Property Tax Calculator by Assessed Value and Tax RateThe Property Tax Calculator is a free browser-based tool that estimates a US property tax bill from three inputs: the property value, the assessment ratio your jurisdiction applies to it, and the tax rate charged on the assessed amount. Property tax is levied locally rather than federally, so there is no national rate to look up; those two local numbers are what actually determine the bill, and both appear on an assessment notice. The tool returns the assessed value, the annual tax, and the monthly and quarterly equivalents, which is the form the figure usually takes inside a mortgage escrow payment.

What people use it for

Comparing two houses in different counties

A buyer choosing between similarly priced homes on opposite sides of a county line finds the tax rates differ by half a percentage point. Running both properties shows a gap of several hundred dollars a year, which compounds substantially over the life of a mortgage and is completely invisible in the listing price.

Checking an escrow shortage notice

A homeowner receiving notice that their escrow account is short by several hundred dollars wants to verify the revised figure before paying it. Entering the reassessed value and the current rate reproduces the annual amount, and the monthly card then shows whether the new payment demand is correct.

Budgeting after a reassessment

A reassessment raises a property value by 18% and the owner wants the practical consequence in monthly terms before the bill actually lands. Running the old and new values against the same rate turns a percentage buried in a letter into the number that matters for household cash flow.

A landlord modelling rental yield

An investor building a cash-flow model for a rental needs the tax line as a real figure rather than a rough allowance. Entering the purchase price, the local assessment ratio, and the rate produces a monthly amount that slots straight into the expense column beside insurance and maintenance.

How it works

Enter the property value Usually the market value or the value shown on your assessment notice. It is the starting point rather than the amount actually taxed, because the assessment ratio is applied to it first.
Enter the assessment rate The percentage of market value your jurisdiction actually assesses. Some places assess at the full 100% and others at a fraction of it, and the number appears on your annual assessment notice.
Enter the tax rate The percentage charged on assessed value, which is sometimes published as a millage rate instead. One mill equals $1 per $1,000 of assessed value, which is the same as 0.1%.
Press Calculate Property Tax Assessed value is the property value multiplied by the assessment rate, and the annual tax is that assessed value multiplied by the tax rate, so both local numbers matter equally.
Read the annual, monthly, and quarterly figures The annual amount is divided by twelve and by four. The monthly figure is the one that matters most if property taxes are collected through a mortgage escrow account rather than billed directly.

Worked examples

Input: Property value $300,000, assessment rate 80%, tax rate 1.5%

Result: Assessed value $240,000, annual tax $3,600.00, monthly $300.00, quarterly $900.00. The effective rate measured against market value is 1.2% rather than 1.5%, because only 80% of the value is ever assessed.

Input: Property value $450,000, assessment rate 100%, tax rate 0.92%

Result: Assessed value $450,000, annual tax $4,140.00, monthly $345.00, quarterly $1,035.00. With full assessment the headline rate and the effective rate are the same number, which makes comparison across jurisdictions easier.

Input: Property value $250,000, assessment rate 40%, tax rate 2.1%

Result: Assessed value $100,000, annual tax $2,100.00, monthly $175.00. A rate that looks high produces a modest bill because the assessment ratio is low, which is why the two numbers must always be read together.

Frequently asked questions

Where do I find my assessment rate and tax rate?: Both appear on the annual assessment or tax notice from your county or municipal assessor, and most assessors publish them online. Guessing either number makes the result meaningless, since the two together determine the entire bill.
How do I convert a millage rate?: One mill is $1 of tax per $1,000 of assessed value, which is 0.1%. A rate of 15 mills is therefore 1.5%, and 22.5 mills is 2.25%. Enter the percentage rather than the mill figure itself.
Does this include homestead or senior exemptions?: No. Exemptions for a primary residence, seniors, veterans, or people with disabilities reduce the taxable assessed value and can be substantial. None have an input here, so subtract an exemption from the value you enter to approximate the effect.
Why is my actual bill higher than this estimate?: Most bills combine several overlapping levies, including county, municipal, school district, and special assessments for services such as fire or drainage. This tool applies one combined rate, so entering a single component understates the total.
Is property tax deductible on a federal return?: It can be, as part of the state and local tax deduction for taxpayers who itemise, and that deduction has been subject to an annual cap. This calculator does not model the deduction, so treat the figure here as the gross cost.
Does the monthly figure match my mortgage escrow?: Only approximately. Servicers collect a cushion and adjust after each annual escrow analysis, so the escrow line usually sits slightly above one twelfth of the bill. The annual figure is the better one to compare against.
How often do these numbers change?: Assessed values are updated on a local reassessment cycle, which can be annual or several years apart, while rates are set each budget year. Re-run the calculation whenever a new notice arrives rather than carrying last year forward.
Can I use this for property outside the United States?: The arithmetic of value times ratio times rate is generic, but the terminology, exemptions, and billing cycles here are American. Pakistani property taxes are administered provincially and are covered by TaxEase paid services instead.

Tips

Read your assessment notice before typing anything into the page. The ratio and the rate on that notice are the only two numbers that matter, and they are easy to confuse with each other.
If your jurisdiction lists several separate levies, add them into one combined rate before entering it, or the estimate will only ever cover part of the bill you receive.
Appeal deadlines are short and usually run from the assessment notice date rather than the bill date. If a new assessed value looks wrong, the time to act is immediately.
When comparing homes, compare annual tax rather than rate. A low rate applied to a high assessment ratio can easily cost more than a high rate on a low one.

Written by Ahsan Mahmood. Last updated 2026-07-21. This calculator runs entirely in your browser and produces estimates, not tax advice.TaxEase — Property Tax Calculator by Assessed Value and Tax Rate