Calculating Estimated Property Taxes

To determine your estimated personal property or real estate taxes:

• First, visit the Collector of Revenue’s Tax Rates archive and select the applicable year’s tax rate document. For example, for 2020 taxes you would select the “2020 Tax Rates (PDF)” document on this page. Tax rates for each year are typically posted by mid-November of that year at the link above.
  
  
• Next, refer to the “Total Tax” column in this document for the political subdivision combination in which you reside/where the property is located and make note of that amount. Please note that political subdivisions include school districts, fire districts, ambulance districts, etc. To determine political subdivisions, enter the property address on the Assessor’s Property Database Search. Additionally, if you live in a city that does not collect its own taxes, please make note of and calculate the tax rate per $100 of assessed valuation in the “Cities” column in the document, and add this amount to the Total Tax. This is the Total Tax Rate you will use in the formulas below.
  
  
• Next, you will need the estimated market value of the type of property you wish to determine estimated property taxes for and make note of that amount. To best determine this:
  
  
  • For personal property: Refer to the valuation listed on the Personal Property Assessment Form sent by the Assessor at the beginning of every tax year, or refer to the Notice of Personal Property Assessment Change, which is sent by the Assessor if you submitted a change/correction to your personal property assessment form in the tax year. OR,
    
    
  • For real estate: Refer to your most recent Notice of Real Estate Assessment and Projected Tax Liability Notice which are sent by the Assessor to property owners every odd year. The Projected Tax Liability Notice outlines your estimated taxes and you do not need to go any further in determining the following calculations. OR,
    
    
  • If you have none of the documents mentioned above, refer to/make note of the valuation listed in your previous year’s personal property or real estate tax statement for a best estimate.
    
    
  • If you are shopping for a new home and want to determine the estimated real estate tax, refer to/make note of the estimated market value.
• Apply these amounts in the formulas below.

Please note: Neither the Assessor nor Collector of Revenue is responsible for setting budgets in each political subdivision or for establishing the tax rate of each individual political subdivision. The examples in the formulas provided below use $100,000 for estimated market value of the property for consistency and clarity.

Personal Property Tax Calculation Formula

The current statewide assessment rate for personal property is 33 1/3 %. To determine how much you owe, perform the following two-part calculation:

1. Estimated Market Value of the Property X Assessment Rate (33 1/3%) = Estimated Assessed Value
2. Estimated Assessed Value / 100 X Total Tax Rate = Estimated Tax Bill

Here’s an example of how this formula works –

To calculate taxes owed on a $100,000 vehicle at a 6.5694 total tax rate per $100 of assessed valuation:

1. 100,000 X .333333 (33 1/3%) = $33,333
2. 33,333 / 100 X 6.5694 = $2,189.58 owed in taxes.

Residential Real Estate Tax Calculation Formula

The current statewide assessment rate for residential real estate property is 19%. To determine how much you owe, perform the following two-part calculation:

1. Estimated Market Value of the Property X Assessment Rate (19%) = Estimated Assessed Value
2. Estimated Assessed Value / 100 X Total Tax Rate = Estimated Tax Bill

Here’s an example of how this formula works –

To calculate taxes owed on a $100,000 home at a 6.5694 total tax rate per $100 of assessed valuation:

1. 100,000 X .19 (19%) = $19,000
2. 19,000 / 100 X 6.5694 = $1,248.19 owed in taxes

Commercial Real Estate Tax Calculation Formula

The current statewide assessment rate for commercial real estate property is 32%. To determine how much you owe, perform the following two-part calculation:

1. Estimated Market Value of the Property X Assessment Rate (32%) = Estimated Assessed Value

2. Estimated Assessed Value / 100 X Total Tax Rate = Estimated Tax Bill

Here’s an example of how this formula works –

To calculate taxes owed on a $100,000 commercial property at 6.5694 total tax rate plus Commercial sur tax of 0.53 for a total tax rate of 7.0994 per $100 of assessed valuation:

1. 100,000 X .32 (32%) = $32,000
2. 32,000 / 100 X 7.0994 = $2,271.80 owed in taxes

Questions?

For questions about assessments and assessed value, please contact the Assessor at 636-949-7425 or by email.

For questions about tax bills or for an estimate, please contact the Collector of Revenue at 636-949-7470 or by email.