General Property Tax Calculator
Compare property tax burdens across Residential, Commercial, and Industrial classifications. Features millage rate adjustments and side-by-side scenario analysis.
Scenario A (Baseline)
Scenario B (Comparison)
Scenario A Result
Scenario B Result
Annual Difference
About
Property tax obligations vary significantly based on zoning classifications and local jurisdiction formulas. Investors and developers must distinguish between nominal tax rates and effective tax burdens when assessing a portfolio. Commercial and industrial properties often face higher assessment ratios or class-specific multipliers compared to residential assets. Miscalculating these distinct liabilities distorts Net Operating Income projections and affects capitalization rate valuations.
This tool isolates the variables of assessment ratios, millage rates, and class multipliers to provide a granular tax estimate. It supports side-by-side comparison to evaluate how re-zoning or relocating an asset changes the fiscal outcome. Accuracy in these figures is essential for feasibility studies and long-term holding cost analysis.
Formulas
The core calculation determines the Assessed Value before applying the Millage Rate and Class Multipliers. The effective tax bill is derived as follows:
Where the Millage represents the amount of tax payable per thousand currency units of the assessed value. Comparison logic uses the delta between two scenarios:
Reference Data
| Property Class | Assessment Ratio (Avg) | Base Multiplier | Common Effective Rate |
|---|---|---|---|
| Residential (Class 1) | 10% - 20% | 1.00x | 0.8% - 1.5% |
| Multi-Family (Class 2) | 20% - 45% | 1.45x | 1.2% - 2.5% |
| Utility / Infrastructure (Class 3) | 40% - 50% | 1.85x | 2.0% - 3.5% |
| Commercial / Office (Class 4) | 45% | 2.10x | 2.5% - 4.0% |
| Industrial / Mfg | 45% - 50% | 2.15x | 2.8% - 4.2% |
| Agricultural Land | 5% - 10% | 0.50x | 0.2% - 0.6% |
| Vacant Land | 30% | 1.20x | 1.5% - 2.2% |
| Mixed-Use | Weighted Avg | Variable | 1.8% - 3.0% |