{
    "name": "Property Tax Estimate Calculator",
    "url": "https://calculators.geekmidst.com/calculators/property-tax-estimate-calculator",
    "markdown": "https://calculators.geekmidst.com/calculators/property-tax-estimate-calculator.md",
    "category": "Real estate",
    "description": "Estimate annual property tax from market value, assessment ratio, exemptions and the tax rate you enter, as a percentage or in mills, plus fixed charges.",
    "summary": "Property tax is usually the taxable (assessed) value times the local rate. Rates, ratios and exemptions differ by place and year, so you enter them from your own assessment notice.",
    "also_called": [
        "Mill rate calculator",
        "Real estate tax calculator"
    ],
    "applies_to": "Worldwide",
    "last_updated": "2026-10-29",
    "computation": "Results are computed in the visitor’s browser on the HTML page. This API describes the calculator; it does not compute results.",
    "inputs": [
        {
            "name": "market_value",
            "label": "Market value",
            "type": "number",
            "default": "400000"
        },
        {
            "name": "assessment_ratio",
            "label": "Assessment ratio",
            "type": "number",
            "default": "80",
            "unit": "% of market value"
        },
        {
            "name": "exemption",
            "label": "Exemptions",
            "type": "number",
            "default": "25000",
            "optional": true
        },
        {
            "name": "rate_type",
            "label": "Rate given as",
            "type": "segmented",
            "default": "mill",
            "options": {
                "percent": "Percent",
                "mill": "Mills (per 1,000)"
            }
        },
        {
            "name": "rate",
            "label": "Tax rate",
            "type": "number",
            "default": "22.5"
        },
        {
            "name": "fixed_charges",
            "label": "Fixed charges and levies (per year)",
            "type": "number",
            "default": "300",
            "optional": true
        },
        {
            "name": "currency",
            "label": "Currency",
            "type": "currency",
            "default": "USD"
        }
    ],
    "outputs": [
        {
            "key": "annual_tax",
            "label": "Estimated property tax per year",
            "format": "currency"
        },
        {
            "key": "monthly_tax",
            "label": "Per month",
            "format": "currency"
        },
        {
            "key": "assessed_value",
            "label": "Assessed value",
            "format": "currency"
        },
        {
            "key": "taxable_value",
            "label": "Taxable value after exemptions",
            "format": "currency"
        },
        {
            "key": "effective_rate",
            "label": "Effective rate on market value",
            "format": "percent"
        }
    ],
    "formula": {
        "text": "Assessed = Market value × Ratio;  Taxable = max(0, Assessed − Exemptions);  Tax = Taxable × Rate (÷ 100 for percent, ÷ 1,000 for mills) + Fixed charges",
        "variables": {
            "Ratio": "share of market value that is assessed",
            "Mill": "one unit of tax per 1,000 of taxable value"
        }
    },
    "worked_example": {
        "inputs": {
            "market_value": "400000",
            "assessment_ratio": "80",
            "exemption": "25000",
            "rate_type": "mill",
            "rate": "22.5",
            "fixed_charges": "300",
            "currency": "USD"
        },
        "steps": [
            "Assessed = 400,000 × 80% = 320,000; taxable = 320,000 − 25,000 = 295,000.",
            "Tax = 295,000 × 22.5 ÷ 1,000 = 6,637.50; plus 300 fixed = 6,937.50.",
            "Per month = 6,937.50 ÷ 12 = 578.13."
        ],
        "result": "With these example inputs the estimated bill is 6,937.50 a year, about 578 a month."
    },
    "interpretation": "The effective rate on market value lets you compare places that use different assessment ratios and exemptions.",
    "assumptions": [
        "Every rate, ratio and exemption is entered by you; none are built in.",
        "One combined rate applies to the whole taxable value."
    ],
    "limitations": [
        "Tiered or banded systems (such as council tax bands), caps on assessment increases and special assessments are not modelled."
    ],
    "rules": null,
    "faqs": [
        {
            "question": "What is a mill rate?",
            "answer": "One mill is one-thousandth. A rate of 22.5 mills means 22.50 of tax for every 1,000 of taxable value, the same as 2.25%."
        },
        {
            "question": "Where do I find my rate and assessment?",
            "answer": "On your assessment notice or tax bill, or from your local assessor or council."
        }
    ],
    "sources": [],
    "related": [
        {
            "name": "Mortgage Calculator",
            "url": "https://calculators.geekmidst.com/calculators/mortgage-calculator"
        },
        {
            "name": "Property Maintenance Reserve Calculator",
            "url": "https://calculators.geekmidst.com/calculators/property-maintenance-reserve-calculator"
        },
        {
            "name": "Net Rental Yield Calculator",
            "url": "https://calculators.geekmidst.com/calculators/rental-yield-net-calculator"
        },
        {
            "name": "Percentage Calculator",
            "url": "https://calculators.geekmidst.com/calculators/percentage-calculator"
        }
    ],
    "disclaimer": "This calculator gives estimates for planning. It is not financial advice, and lenders’ actual terms, fees and rounding may differ.",
    "publisher": "GM¹X CalcVerse"
}