{
  "slug": "property-tax",
  "title": "Property Tax Calculator",
  "heading": "Property Tax Calculator",
  "category": "financial",
  "url": "https://www.revenuelab.fyi/toolbox/property-tax",
  "summary": "Annual and monthly property tax from assessed value.",
  "description": "Property tax is assessed value times the local millage rate, after any homestead or senior exemption. Rates vary from under 0.3% to over 2.2% depending on the county, which is often a bigger cost difference than the mortgage rate.",
  "formula": "Tax = (Assessed value − exemptions) × Rate.",
  "dateModified": "2026-09-30",
  "run_url": "https://www.revenuelab.fyi/api/public/calc?tool=property-tax",
  "inputs": [
    {
      "id": "value",
      "label": "Market value",
      "kind": "number",
      "hint": null,
      "default": 420000,
      "unit": "$",
      "min": 0,
      "max": null
    },
    {
      "id": "assessedPct",
      "label": "Assessment ratio",
      "kind": "number",
      "hint": null,
      "default": 100,
      "unit": "%",
      "min": 1,
      "max": 100
    },
    {
      "id": "rate",
      "label": "Property tax rate",
      "kind": "number",
      "hint": null,
      "default": 1.1,
      "unit": "%",
      "min": 0,
      "max": 5
    },
    {
      "id": "exemption",
      "label": "Homestead exemption",
      "kind": "number",
      "hint": null,
      "default": 0,
      "unit": "$",
      "min": 0,
      "max": null
    }
  ],
  "outputs": [
    {
      "id": "annual",
      "label": "Annual property tax",
      "format": "currency",
      "hint": null,
      "primary": true
    },
    {
      "id": "monthly",
      "label": "Monthly escrow amount",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "assessed",
      "label": "Assessed value",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "taxable",
      "label": "Taxable value after exemption",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "effective",
      "label": "Effective rate on market value",
      "format": "percent",
      "hint": null,
      "primary": false
    }
  ],
  "worked_example": {
    "inputs": [
      "Market value: 420000 $",
      "Assessment ratio: 100 %",
      "Property tax rate: 1.1 %",
      "Homestead exemption: 0 $"
    ],
    "outputs": [
      "Annual property tax: $4,620.00",
      "Monthly escrow amount: $385.00",
      "Assessed value: $420,000.00",
      "Taxable value after exemption: $420,000.00",
      "Effective rate on market value: 1.10%"
    ]
  },
  "how_to": {
    "title": "How to use this",
    "steps": [
      "Enter market value ($).",
      "Enter assessment ratio (%).",
      "Enter property tax rate (%).",
      "Enter homestead exemption ($).",
      "Read your annual property tax on the right — it updates as you type.",
      "Hit Share to keep the scenario or send it to someone."
    ]
  },
  "scenarios": [
    {
      "name": "Conservative",
      "description": "Lower-end numbers — what if things land soft?",
      "values": {
        "value": 250000,
        "assessedPct": 60,
        "rate": 1.1,
        "exemption": 0
      }
    },
    {
      "name": "Typical",
      "description": "Defaults — the most common real-world setup.",
      "values": {
        "value": 420000,
        "assessedPct": 100,
        "rate": 1.1,
        "exemption": 0
      }
    },
    {
      "name": "Ambitious",
      "description": "Higher-end numbers — what if things really pop?",
      "values": {
        "value": 670000,
        "assessedPct": 100,
        "rate": 1.1,
        "exemption": 0
      }
    }
  ],
  "limitations": [
    "Results are estimates before tax, fees, and inflation unless an input explicitly covers them.",
    "Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.",
    "This is educational maths, not financial advice. Check anything contractual with the lender or your accountant."
  ],
  "faq": [
    {
      "q": "How does the property tax calculator work?",
      "a": "Property tax is assessed value times the local millage rate, after any homestead or senior exemption. Rates vary from under 0.3% to over 2.2% depending on the county, which is often a bigger cost difference than the mortgage rate. The underlying maths is: Tax = (Assessed value − exemptions) × Rate."
    },
    {
      "q": "What do I need to enter?",
      "a": "4 values: market value, assessment ratio, property tax rate, and homestead exemption. Each field starts with a sensible default, so you can change one number at a time and watch the result move."
    },
    {
      "q": "What does the annual property tax result mean?",
      "a": "It is returned as a money amount in US dollars and updates live as you edit the inputs, so you can compare two or three versions of a scenario in a few seconds."
    },
    {
      "q": "Is this calculator free, and do I need an account?",
      "a": "Yes, it's free, and no account is required. Nothing you type is stored on our servers — the maths runs entirely in your browser."
    },
    {
      "q": "How accurate is the result?",
      "a": "It applies the standard formula exactly, so the arithmetic is precise. Results are estimates before tax, fees, and inflation unless an input explicitly covers them."
    },
    {
      "q": "Who is this tool for?",
      "a": "It's built for anyone comparing money scenarios before committing — budgeting a payment, sanity-checking a quote, or seeing what a change in rate or term actually costs."
    }
  ],
  "related": [
    "https://www.revenuelab.fyi/toolbox/mortgage",
    "https://www.revenuelab.fyi/toolbox/closing-costs"
  ],
  "license": "CC-BY-4.0",
  "citation": "RevenueLab — Property Tax Calculator (https://www.revenuelab.fyi/toolbox/property-tax)"
}