Estimate Property Taxes on a 43k Home

Calculate property taxes on a 43,000 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 $17,200. However, the house is worth much more, and you pay $43,000. In this scenario, your new taxable value could be $43,000, and if the tax rate is 2%, the new tax bill could be $860/year even though the previous owner paid just $344.
Previous Owner New Owner
Taxable Value $17,200 $43,000
Tax Rate 2% 2%
Property Taxes $344 $860
Estimate Property Taxes on a 43,000 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
43,000 0.1% $43
43,000 0.2% $86
43,000 0.3% $129
43,000 0.4% $172
43,000 0.5% $215
43,000 0.6% $258
43,000 0.7% $301
43,000 0.8% $344
43,000 0.9% $387
43,000 1% $430
43,000 1.1% $473
43,000 1.2% $516
43,000 1.3% $559
43,000 1.4% $602
43,000 1.5% $645
43,000 1.6% $688
43,000 1.7% $731
43,000 1.8% $774
43,000 1.9% $817
43,000 2% $860
43,000 2.1% $903
43,000 2.2% $946
43,000 2.3% $989
43,000 2.4% $1,032
43,000 2.5% $1,075
43,000 2.6% $1,118
43,000 2.7% $1,161
43,000 2.8% $1,204
43,000 2.9% $1,247
43,000 3% $1,290
Taxes Using 50% Value and Mills
Taxable Value Millage Rate (per $1,000) Property Taxes
21,500 $2 per $1,000 $43
21,500 $4 per $1,000 $86
21,500 $6 per $1,000 $129
21,500 $8 per $1,000 $172
21,500 $10 per $1,000 $215
21,500 $12 per $1,000 $258
21,500 $14 per $1,000 $301
21,500 $16 per $1,000 $344
21,500 $18 per $1,000 $387
21,500 $20 per $1,000 $430
21,500 $22 per $1,000 $473
21,500 $24 per $1,000 $516
21,500 $26 per $1,000 $559
21,500 $28 per $1,000 $602
21,500 $30 per $1,000 $645
21,500 $32 per $1,000 $688
21,500 $34 per $1,000 $731
21,500 $36 per $1,000 $774
21,500 $38 per $1,000 $817
21,500 $40 per $1,000 $860
21,500 $42 per $1,000 $903
21,500 $44 per $1,000 $946
21,500 $46 per $1,000 $989
21,500 $48 per $1,000 $1,032
21,500 $50 per $1,000 $1,075
21,500 $52 per $1,000 $1,118
21,500 $54 per $1,000 $1,161
21,500 $56 per $1,000 $1,204
21,500 $58 per $1,000 $1,247
21,500 $60 per $1,000 $1,290
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 $21,500, a rate of 40 mills would have property taxes of $860.
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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