Estimate Property Taxes on a 325k Home

Calculate property taxes on a 325,000 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 $130,000. However, the house is worth much more, and you pay $325,000. In this scenario, your new taxable value could be $325,000, and if the tax rate is 2%, the new tax bill could be $6,500/year even though the previous owner paid just $2,600.
Previous Owner New Owner
Taxable Value $130,000 $325,000
Tax Rate 2% 2%
Property Taxes $2,600 $6,500
Estimate Property Taxes on a 325,000 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
325,000 0.1% $325
325,000 0.2% $650
325,000 0.3% $975
325,000 0.4% $1,300
325,000 0.5% $1,625
325,000 0.6% $1,950
325,000 0.7% $2,275
325,000 0.8% $2,600
325,000 0.9% $2,925
325,000 1% $3,250
325,000 1.1% $3,575
325,000 1.2% $3,900
325,000 1.3% $4,225
325,000 1.4% $4,550
325,000 1.5% $4,875
325,000 1.6% $5,200
325,000 1.7% $5,525
325,000 1.8% $5,850
325,000 1.9% $6,175
325,000 2% $6,500
325,000 2.1% $6,825
325,000 2.2% $7,150
325,000 2.3% $7,475
325,000 2.4% $7,800
325,000 2.5% $8,125
325,000 2.6% $8,450
325,000 2.7% $8,775
325,000 2.8% $9,100
325,000 2.9% $9,425
325,000 3% $9,750
Taxes Using 50% Value and Mills
Taxable Value Millage Rate (per $1,000) Property Taxes
162,500 $2 per $1,000 $325
162,500 $4 per $1,000 $650
162,500 $6 per $1,000 $975
162,500 $8 per $1,000 $1,300
162,500 $10 per $1,000 $1,625
162,500 $12 per $1,000 $1,950
162,500 $14 per $1,000 $2,275
162,500 $16 per $1,000 $2,600
162,500 $18 per $1,000 $2,925
162,500 $20 per $1,000 $3,250
162,500 $22 per $1,000 $3,575
162,500 $24 per $1,000 $3,900
162,500 $26 per $1,000 $4,225
162,500 $28 per $1,000 $4,550
162,500 $30 per $1,000 $4,875
162,500 $32 per $1,000 $5,200
162,500 $34 per $1,000 $5,525
162,500 $36 per $1,000 $5,850
162,500 $38 per $1,000 $6,175
162,500 $40 per $1,000 $6,500
162,500 $42 per $1,000 $6,825
162,500 $44 per $1,000 $7,150
162,500 $46 per $1,000 $7,475
162,500 $48 per $1,000 $7,800
162,500 $50 per $1,000 $8,125
162,500 $52 per $1,000 $8,450
162,500 $54 per $1,000 $8,775
162,500 $56 per $1,000 $9,100
162,500 $58 per $1,000 $9,425
162,500 $60 per $1,000 $9,750
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 $162,500, a rate of 40 mills would have property taxes of $6,500.
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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