Property Tax Rate Calculator
Determine the exact effective property tax rate and mill levy from your annual tax bill and assessed property value.
Effective Property Tax Rate
Property Tax Rate & Mill Levy Formula
Tax Rate % = (Annual Tax Bill ÷ Assessed Property Value) × 100 | Millage Rate = Tax Rate % × 10 | Tax Per $1,000 = Millage Rate- Annual Tax Bill: Total combined county, school board, municipal, and special assessment taxes paid.
- Assessed Property Value: The taxable valuation recorded on your county notice of assessment.
- Mill Levy: Number of mills levied ($1 per $1,000 assessed value).
Step-by-Step Worked Example
Calculation Steps:
How to Use This Calculator
Assumptions & Limitations
- Calculation evaluates the blended composite rate of all taxing entities in your jurisdiction.
Frequently Asked Questions
What is a good or average property tax rate in the US?
The nationwide average effective property tax rate is approximately 1.0% to 1.1%. Rates range from under 0.4% in Hawaii, Alabama, and Nevada to over 2.0% in New Jersey, Illinois, and Connecticut.
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