Estimate Property Taxes on a 25k Home

Calculate property taxes on a 25,000 home purchase.
About Property Taxes
Property taxes are assessed by local municipalities to pay for things such as local public schools, parks, and other municipal expenses. It can be confusing to estimate your new property taxes when buying a home.

When you buy a home, the property taxes are typically assessed based on the purchase price. You could end up paying significantly higher property taxes than the previous owner, especially if the previous owner has lived in the home for years and the taxable value is less than the purchase price.

For example, let's say that the previous owner has owned the house for 20 years and the taxable value is $10,000. However, the house is worth much more, and you pay $25,000. In this scenario, your new taxable value could be $25,000, and if the tax rate is 2%, the new tax bill could be $500/year even though the previous owner paid just $200.
Previous Owner New Owner
Taxable Value $10,000 $25,000
Tax Rate 2% 2%
Property Taxes $200 $500
Estimate Property Taxes on a 25,000 Home Purchase
Use this calculator to determine the new tax bill on a home purchase. The results will update as you type. Your local government should have data about the tax rates and millage rates. You'll need to find out how the taxable value is calculated. Many times, the accessed and taxable values are 50% of the actual purchase price of the home.
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Property Taxes
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Property Taxes
Taxes Using 100% Value
Value Tax Rate Property Taxes
25,000 0.1% $25
25,000 0.2% $50
25,000 0.3% $75
25,000 0.4% $100
25,000 0.5% $125
25,000 0.6% $150
25,000 0.7% $175
25,000 0.8% $200
25,000 0.9% $225
25,000 1% $250
25,000 1.1% $275
25,000 1.2% $300
25,000 1.3% $325
25,000 1.4% $350
25,000 1.5% $375
25,000 1.6% $400
25,000 1.7% $425
25,000 1.8% $450
25,000 1.9% $475
25,000 2% $500
25,000 2.1% $525
25,000 2.2% $550
25,000 2.3% $575
25,000 2.4% $600
25,000 2.5% $625
25,000 2.6% $650
25,000 2.7% $675
25,000 2.8% $700
25,000 2.9% $725
25,000 3% $750
Taxes Using 50% Value and Mills
Taxable Value Millage Rate (per $1,000) Property Taxes
12,500 $2 per $1,000 $25
12,500 $4 per $1,000 $50
12,500 $6 per $1,000 $75
12,500 $8 per $1,000 $100
12,500 $10 per $1,000 $125
12,500 $12 per $1,000 $150
12,500 $14 per $1,000 $175
12,500 $16 per $1,000 $200
12,500 $18 per $1,000 $225
12,500 $20 per $1,000 $250
12,500 $22 per $1,000 $275
12,500 $24 per $1,000 $300
12,500 $26 per $1,000 $325
12,500 $28 per $1,000 $350
12,500 $30 per $1,000 $375
12,500 $32 per $1,000 $400
12,500 $34 per $1,000 $425
12,500 $36 per $1,000 $450
12,500 $38 per $1,000 $475
12,500 $40 per $1,000 $500
12,500 $42 per $1,000 $525
12,500 $44 per $1,000 $550
12,500 $46 per $1,000 $575
12,500 $48 per $1,000 $600
12,500 $50 per $1,000 $625
12,500 $52 per $1,000 $650
12,500 $54 per $1,000 $675
12,500 $56 per $1,000 $700
12,500 $58 per $1,000 $725
12,500 $60 per $1,000 $750
Understanding the Tax Bill
Many times, a property is accessed at 50% of the value of a property. The taxable value often has a cap on the amount that it can increase but this depends on the municipality. This is why long time home owners often have taxable values much less than assessed values.

The millage rate is a number used by local governments to assess taxes. It is expressed as a dollar amount for every $1,000 in taxable value. For example, 40 mills would equal $40 in property taxes for every $1,000 of taxable value. So for a home with a taxable value of $12,500, a rate of 40 mills would have property taxes of $500.
Assessed Value Value that the assessor gives to the property. This is usually less than the actual value of the home.
Taxable Value The value that is used to calculate property taxes.
Mills or Millage Rate Expressed as dollars per $1,000 of taxable value.
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