Property Tax Calculator 🏡💸
🏠 Value ₹15,000,000, Tax Rate 1%, Exemptions ₹50,000 → Calculate tax
🏡 Value ₹8,000,000, Tax Rate 0.75%, No exemptions → Calculate tax
🏡 Property Tax Calculator – Frequently Asked Questions
❓ What is a Property Tax Calculator?
🧮 It helps estimate your annual property tax based on your home’s assessed value, the local tax rate, and any exemptions you're eligible for.
📊 How is property tax calculated?
📌 Property tax is generally calculated as:
(Assessed Value – Exemptions) × Tax Rate
For example, if your home is worth $300,000 with a $50,000 exemption and 1.2% tax rate:
(300,000 – 50,000) × 0.012 = $3,000/year
🏠 What is an assessed property value?
📝 This is the value determined by your local tax assessor, used for tax purposes. It may be lower than the home’s market price.
📉 What are property tax exemptions?
✔️ Exemptions reduce your taxable home value. Common ones include homestead, senior citizen, veteran, or disability exemptions, based on location.
🌍 Why does property tax vary by location?
📍 Rates and rules are set by local governments. Cities, counties, and states may all have different property tax policies.