Enter your property value, tax rate, and exemptions into the calculator to determine your net property tax.

Property Tax Calculation Formula

The following formula is used to calculate the net property tax from your property value:

Net Tax = (Property Value * Tax Rate / 100) - Exemptions

Variables:

  • Net Tax is the net amount of property tax you owe ($)
  • Property Value is the assessed value of your property ($)
  • Tax Rate is the percentage of tax applied to your property value (%)
  • Exemptions are any deductions you are eligible for ($)

To calculate the net property tax, multiply the property value by the tax rate and subtract any exemptions.

What is Property Tax Calculation?

Property tax calculation refers to the process of determining the tax you owe based on the assessed value of your property and the applicable tax rate. This involves understanding your property’s value, any applicable exemptions, and the tax rate in your area. Accurate property tax calculation ensures you know the exact amount you need to budget for property taxes