What Are Property Taxes?

Property taxes are a fee the local government charges owners of real estate. Unlike a mortgage, property taxes are never paid completely. The government needs a greater amount of your cash each year. If  the value of your home is higher, then you pay more property taxes, Use the property tax calculator to estimate your annual property taxes.

How To Calculate What I Owe In Property Taxes?

Calculating is complicated; it varies within a state. For commercial and residential, many states have different property tax rate calculations. The assessment ratio for property taxes is the portion of the market value to which the tax rate is applied. 

Calculating Property Taxes

Property taxes = Market Value of real estate x assessment ratio x tax rate.

The above simplifies the tax rate calculation by excluding exemptions. Many states have an exemption for properties. A more precise summary of property tax calculations is:

Property taxes = ((Market value of real estate x assessment rate) – exemption) x tax rate.

How Much Are My Property Taxes?

  • The estimated amount of your property taxes and 
  • The amount of excess property taxes you are paying, are your property taxes.

How Much Is Too Much?

Overpaying your property taxes more than it is required by law is too much. There are two primary tools to reduce property taxes:

  • Homestead exemptions for your house
  • Property tax appeals.

Property taxes calculators are used to fund cities, counties, schools, and special districts. They are a large source of revenue for the local government. You don’t want to pay more than your share. Research for the homestead exemptions in your area and appeal your property taxes regularly. You should appeal your property taxes each time they are reassessed, and between reassessments, to check if your taxes are too high based on market value or fairness.

Estimate your potential savings using the property tax calculator:

Estimate your annual property taxes and potential savings using the property tax calculator. Just enter your address. No personal information is required such as email address or phone number.

The property tax calculator will estimate your annual property taxes and calculate how much you can save with the property tax protection program. No more details are required, Just enter your property address and receive the response immediately. No personal information is needed. The property tax calculator and fairness checker are both free.


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