Tools you might need next
Free mortgage calculator for monthly payment, total interest, and amortization. Compare 15- vs 30-year home loans with down payment and rate inputs.
Find minimum occupancy rate to cover operating expenses and debt service. Free break-even occupancy calculator for multifamily and commercial property analysis.
Calculate Return on Investment. Gain divided by cost. Get ROI percentage and net profit. Essential for business decisions.
Tax rate may be expressed as percentage (1.2%) or mills (12 mills = 1.2%). Apply to assessed value after exemptions.
Tax = Assessed Value × Tax RateOne mill = $1 tax per $1,000 assessed value. 25 mills = 2.5% effective rate on assessment.
Tax Rate = Mills ÷ 1,000Lenders collect 1/12 of estimated annual tax in escrow monthly, adjusted at annual reconciliation.
Monthly = Annual Tax ÷ 12Updated: July 2026
Annual tax = $4,025 ($335/mo escrow). Verify assessment equals purchase price or is reassessed on sale.
Taxable value $300k on $350k home with homestead. Exemption rules vary by state — not all apply to investors.
Same $400k value at 0.9% vs 2.1% rate = $3,600 vs $8,400 annual tax — location drives long-term cost.
Estimate annual property tax liability before buying a home or investment property. Enter assessed value (or purchase price where assessments track sales), local tax rate or millage, and exemptions to get annual and monthly tax amounts.