About this tool
Compute annual property tax from assessed value and tax rate, plus the monthly equivalent that escrow accounts use.
Formula
annualTax = assessedValue × rate / 100. monthlyTax = annualTax / 12.
Worked example
$400,000 assessed at 1.2 % → $4,800 annual, $400/month.
Notes
Many jurisdictions use "mill rates" (tax per $1,000 of value). 12 mills = 1.2 %. Check your local assessor for assessed-vs-market-value rules.