Property Tax Reassessment Calculator
See how a new assessed value changes your property tax bill — the new annual and monthly tax, the dollar increase and the percent change.
How it works
Tax = assessed value × rate% · Change = new tax − old tax
A reassessment reprices your property for tax purposes, and because the tax is a flat percentage of assessed value, a value jump flows straight to the bill. In areas without assessment caps, a hot market can raise taxes sharply between cycles; where caps exist, increases are limited each year until a sale resets the value. Rising taxes hit rental cash flow directly — they are an operating expense that a fixed rent roll cannot immediately offset.
Worked example
A property reassessed from $300,000 to $380,000 at a 1.2% rate goes from $3,600 to $4,560 in annual tax — an increase of $960 a year, or $80 a month, up 26.7%.
Frequently asked questions
What is the difference between assessed and market value?
Market value is what the property would sell for; assessed value is the figure the taxing authority uses, sometimes a fraction of market value set by an assessment ratio. Enter the assessed value your rate applies to, not the sale price, unless they are the same locally.
How do I convert a mill rate to a percentage?
A mill is one dollar of tax per $1,000 of value, so divide the mill rate by 10 to get a percentage — a 12-mill rate equals 1.2%. Enter that percentage in the rate field.
Can I challenge a reassessment?
Most jurisdictions allow an appeal within a set window, typically by showing comparable sales or errors in the property record. A successful appeal lowers the assessed value and, through this same formula, the tax.
Related calculators
Educational estimate, not financial or investment advice.