Rex says
Money math without the spreadsheet headache. Plug in your numbers and I'll show you exactly where the dollars land.
Try a scenario
Click to load — tweak from there.Inputs
Result
Annual property tax
$4,620
Monthly escrow amount
$385.00
Assessed value
$420,000
Taxable value after exemption
$420,000
Effective rate on market value
1.10%
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How to use this
- 1Enter market value ($).
- 2Enter assessment ratio (%).
- 3Enter property tax rate (%).
- 4Enter homestead exemption ($).
- 5Read your annual property tax on the right — it updates as you type.
- 6Hit Share to keep the scenario or send it to someone.
About this calculator
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.
Worked example
Using the values the calculator loads with:
Inputs
- Market value: 420000 $
- Assessment ratio: 100 %
- Property tax rate: 1.1 %
- Homestead exemption: 0 $
Results
- Annual property tax: $4,620.00
- Monthly escrow amount: $385.00
- Assessed value: $420,000.00
- Taxable value after exemption: $420,000.00
- Effective rate on market value: 1.10%
What each field means
Inputs
- Market value ($)
- The market value used in the calculation, measured in $. Starts at 420000 $ so you have a working example on load.
- Assessment ratio (%)
- The assessment ratio used in the calculation, measured in %. Starts at 100 % so you have a working example on load. Accepted range: 1–100 %.
- Property tax rate (%)
- The property tax rate used in the calculation, measured in %. Starts at 1.1 % so you have a working example on load. Accepted range: 0–5 %.
- Homestead exemption ($)
- The homestead exemption used in the calculation, measured in $. Starts at 0 $ so you have a working example on load.
Results
- Annual property tax
- Returned as a money amount in US dollars and shown as the headline result. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Monthly escrow amount
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Assessed value
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Taxable value after exemption
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Effective rate on market value
- Returned as a percentage. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
FAQ
How does the property tax calculator work?
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.
What do I need to enter?
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.
What does the annual property tax result mean?
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.
Is this calculator free, and do I need an account?
Yes, it's free, and no account is required. Nothing you type is stored on our servers — the maths runs entirely in your browser.
How accurate is the result?
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.
Who is this tool for?
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.
Accuracy and 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.
Related tools
Cite this calculator
Writing about this topic? Grab a citation — every link helps keep these tools free.
RevenueLab. (2026). Property Tax Calculator. Retrieved from https://www.revenuelab.fyi/toolbox/property-tax
<p>Source: <a href="https://www.revenuelab.fyi/toolbox/property-tax" target="_blank" rel="noopener">Property Tax Calculator — RevenueLab</a> (2026).</p>
Source: [Property Tax Calculator — RevenueLab](https://www.revenuelab.fyi/toolbox/property-tax) (2026).