Universal Property & Land Tax Estimator
Calculate annual property taxes using Rate (%) or Millage logic. Determine monthly escrow obligations and compare against regional averages.
About
Property tax liabilities vary significantly by jurisdiction, often defined by either a direct percentage rate or a "Millage Rate" (tax per $1,000 of assessed value). This tool provides a unified interface to estimate annual obligations regardless of the local format used.
By converting Assessed Value and Rate into a clear installment breakdown, homeowners and investors can accurately budget for escrow payments or annual bills. The logic handles both standard percentage inputs (common in Europe/Asia) and Millage inputs (common in the US/Canada).
Formulas
Percentage Method:
Tax = Value × Rate%100
Millage Method:
Tax = Value1,000 × MillageRate
Reference Data
| Region/Type | Avg. Rate Range | Millage Equivalent |
|---|---|---|
| USA (National Avg) | 1.1% | 11 Mills |
| USA (High - NJ/IL) | 2.0% - 2.5% | 20 - 25 Mills |
| USA (Low - HI/AL) | 0.3% - 0.4% | 3 - 4 Mills |
| UK (Council Tax) | Fixed Banding | N/A |
| Canada | 0.5% - 1.5% | 5 - 15 Mills |