Property Tax Calculator
Property tax is a recurring cost of ownership that never goes away, even after the mortgage is paid off. This calculator estimates the annual bill and its monthly escrow equivalent.
Estimated annual property tax
$6,050
$504 per month in escrow.
- Taxable value
- $550,000
- Monthly escrow
- $504
- Effective rate on market value
- 1.10%
- 10-year total (at your growth rate)
- $66,246
Five-year projection
| Period | Assessed value | Annual tax | Monthly |
|---|---|---|---|
| Year 1 | $561,000 | $6,171 | $514 |
| Year 2 | $572,220 | $6,294 | $525 |
| Year 3 | $583,664 | $6,420 | $535 |
| Year 4 | $595,338 | $6,549 | $546 |
| Year 5 | $607,244 | $6,680 | $557 |
What this means
At a 1.10% rate on $550,000 of taxable value, the estimated bill is $6,050 per year, or $504 per month.
Rates combine county, city, school district, and special assessments, and reassessment rules differ by state. Check your county assessor for the authoritative figure.
How this calculation works
- Taxable value is the assessed value minus any exemptions you qualify for.
- The annual bill is taxable value multiplied by the local rate (millage expressed as a percentage).
- The projection applies your expected annual assessment growth, which some states cap.
All results are estimates based on the assumptions you enter. RE View does not provide financial, tax, or lending advice.
Related calculators
Related guides
- What Is Property Tax?
How property tax is assessed, escrowed, and how it changes over time.
- What Costs More: Renting or Owning?
A category-by-category cost comparison of the two housing paths.