How is Property Tax Calculated?

An annual fee levied by local governments to fund essential services like schools, roads, and police.

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What is property tax?

An estimate of your property's market value, determined by local assessors who consider recent sales of comparable properties, size, location, and condition.

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Assessed Value

A tax rate expressed in mills (one mill = one-tenth of one cent).

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Mill Rate

Mill rates vary significantly depending on your location. High mill rates often indicate a larger number of local services funded by property taxes.

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Variations Across Locations

Mill rates vary significantly depending on your location. High mill rates often indicate a larger number of local services funded by property taxes.

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Resources for Finding Your Rates

Many localities offer exemptions or discounts for seniors, veterans, or low-income homeowners.

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Potential Exemptions and Discounts

Feeling overwhelmed by property taxes? We can help!

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