Estimate Property Taxes on a 57k Home

Calculate property taxes on a 57,000 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 $22,800. However, the house is worth much more, and you pay $57,000. In this scenario, your new taxable value could be $57,000, and if the tax rate is 2%, the new tax bill could be $1,140/year even though the previous owner paid just $456.
Previous Owner New Owner
Taxable Value $22,800 $57,000
Tax Rate 2% 2%
Property Taxes $456 $1,140
Estimate Property Taxes on a 57,000 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
57,000 0.1% $57
57,000 0.2% $114
57,000 0.3% $171
57,000 0.4% $228
57,000 0.5% $285
57,000 0.6% $342
57,000 0.7% $399
57,000 0.8% $456
57,000 0.9% $513
57,000 1% $570
57,000 1.1% $627
57,000 1.2% $684
57,000 1.3% $741
57,000 1.4% $798
57,000 1.5% $855
57,000 1.6% $912
57,000 1.7% $969
57,000 1.8% $1,026
57,000 1.9% $1,083
57,000 2% $1,140
57,000 2.1% $1,197
57,000 2.2% $1,254
57,000 2.3% $1,311
57,000 2.4% $1,368
57,000 2.5% $1,425
57,000 2.6% $1,482
57,000 2.7% $1,539
57,000 2.8% $1,596
57,000 2.9% $1,653
57,000 3% $1,710
Taxes Using 50% Value and Mills
Taxable Value Millage Rate (per $1,000) Property Taxes
28,500 $2 per $1,000 $57
28,500 $4 per $1,000 $114
28,500 $6 per $1,000 $171
28,500 $8 per $1,000 $228
28,500 $10 per $1,000 $285
28,500 $12 per $1,000 $342
28,500 $14 per $1,000 $399
28,500 $16 per $1,000 $456
28,500 $18 per $1,000 $513
28,500 $20 per $1,000 $570
28,500 $22 per $1,000 $627
28,500 $24 per $1,000 $684
28,500 $26 per $1,000 $741
28,500 $28 per $1,000 $798
28,500 $30 per $1,000 $855
28,500 $32 per $1,000 $912
28,500 $34 per $1,000 $969
28,500 $36 per $1,000 $1,026
28,500 $38 per $1,000 $1,083
28,500 $40 per $1,000 $1,140
28,500 $42 per $1,000 $1,197
28,500 $44 per $1,000 $1,254
28,500 $46 per $1,000 $1,311
28,500 $48 per $1,000 $1,368
28,500 $50 per $1,000 $1,425
28,500 $52 per $1,000 $1,482
28,500 $54 per $1,000 $1,539
28,500 $56 per $1,000 $1,596
28,500 $58 per $1,000 $1,653
28,500 $60 per $1,000 $1,710
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 $28,500, a rate of 40 mills would have property taxes of $1,140.
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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