Virginia Property Tax Calculator

Michigan Property Tax Calculator

Michigan Property Tax Calculator

Estimate your property taxes based on Michigan's assessment rates and mill rates

1
Property Details
2
Location
3
Owner Info
4
Exemptions
5
Results
Michigan Assessment Rates
Michigan assesses properties at 50% of true cash value with an average effective property tax rate of ~1.15%. Taxable value increases are capped at 5% per year or the rate of inflation, whichever is less.

Property Details

Enter the true cash value (market value) of your property in USD

Please enter a valid true cash value

Enter the previous year's taxable value (if known)

Current inflation rate (default: 2.3%)

Different property types have different tax rates in Michigan

Please select a property type

Enter the total square footage of the property

Please enter valid square footage

Enter the total acreage of the property

Please enter valid acreage

Enter the year the property was constructed

Please enter a valid year

The year for which you want to calculate property taxes

Please select an assessment year

Principal residences qualify for the Principal Residence Exemption (PRE)

Recent purchases may trigger a taxable value "uncapping"

Location Information

Your county determines some of your tax rates

Please select a county

Your city/township determines your local millage rates

School districts have their own millage rates

Special assessment districts may have additional millage rates

Owner Information

Your ownership status may affect exemption eligibility

Please select an ownership status

Enter how many years you've owned the property

Please enter a valid duration

Enter owner's age (required for certain exemptions)

Please enter a valid age

Required for Homestead Property Tax Credit eligibility

Disabled veterans may qualify for property tax exemptions

Seniors may qualify for additional property tax credits

Exemption Eligibility

Check all exemptions that apply to your property

Exempts property from up to 18 mills of school operating taxes

100% exemption for qualifying disabled veterans

For low-income homeowners who meet local guidelines

State income tax credit for qualifying homeowners and renters

Exempts property from up to 18 mills of school operating taxes

For qualifying industrial properties

For qualifying residential properties in designated zones

For qualifying rehabilitated commercial properties

For qualifying rehabilitated obsolete properties

Property Tax Assessment Results

Assessment Summary

True Cash Value: $0
State Equalized Value (SEV): $0
Previous Taxable Value: $0
Capped Value Increase: $0
Current Taxable Value: $0

Millage Rate Information

County Operating Millage: 0.00
City/Township Millage: 0.00
School Operating Millage: 0.00
School Debt Millage: 0.00
State Education Tax: 6.00
Special Assessment Millage: 0.00
Total Millage Rate: 0.00

Tax Calculation

County Tax: $0
City/Township Tax: $0
School Operating Tax: $0
School Debt Tax: $0
State Education Tax: $0
Special Assessment Taxes: $0
Total Property Tax: $0
Homestead Property Tax Credit: $0
Net Annual Tax Amount: $0
Effective Tax Rate: 0.00%

Payment Information

Summer Tax Due: $0
Winter Tax Due: $0
Summer Tax Due Date: July 1 (payable by September 14)
Winter Tax Due Date: December 1 (payable by February 14)

Disclaimer: This calculator provides an estimate of property taxes based on the information provided. Actual tax amounts may vary. Please consult with your local tax assessor's office for official tax information.

With our free Property Tax Calculator, quickly project your Virginia annual property tax obligation. Whether you are a landowner, a business owner, or a homeowner, simply enter the assessed value, location (county or city), and any exemptions to get a reasonable projection of your tax bill.

Definition

Based on the assessed value of their property, its location (county or independent city), the type of property, and any applicable exemption, the Virginia Property Tax Calculator is a financial tool that enables property owners estimate their annual property tax. It is catered to Virginia’s property tax structure, which local governments—cities, counties, towns—manage.

The Reason It Matters

For Virginian property owners, property taxes are a major outlay of funds supporting basic local services including roads, schools, and emergency services. Knowing your property tax responsibility facilitates financial planning, budgeting, and wise property ownership decisions. Although Virginia’s average effective property tax rate of 0.76% is below the national average of 0.90%, local rates and property values will greatly affect actual tax payments.

Short History

Since Virginia’s early days, property taxes have been a component of its tax system, changing to suit local governments. Local level management of the state’s property tax system allows every locality to decide its own assessment techniques and tax rates. Enacted in 1985, Virginia’s Truth in Taxation law mandates localities hold public hearings prior to raising property tax revenue, so guaranteeing openness and public input in the tax-setting process.

The Mechanism

Formula for Property Taxes:

Property Tax=(Assessed Value100)×Total Property Tax Rate\text{Property Tax} = \left( \frac{\text{Assessed Value}}{100} \right) \times \text{Total Property Tax Rate}

Where?

  • Value of Your Property: Usually reflecting its fair market value, your local assessor’s assessment of your property will be used.
  • Total Property Tax Rate: Usually stated per $100 of assessed value, your local government’s total property tax rate—county, city, school district, etc.—usually reflects what it sets overall.

Step-by-Step

  1. From the office of your local assessor or property tax statement, find the assessed value of your property. Depending on the locality, Virginia properties are reassessed every two to six years.
  2. Name the type of property you own: Indicate whether your property is residential, commercial, or other; some localities apply different rates or exemptions based on this.
  3. Get the total property tax rate. Visit your local government’s website or tax office to find the overall property tax rate for your particular area.
  4. Apply exemptions. To find the taxable value, subtract any exemptions you qualify for—such as senior or veteran exemptions—from the assessed value.
  5. Determine property tax: To find your annual property tax, divide the taxable value by 100 then multiply by the overall property tax rate.

Important Inputs and Components

Definition of Input Description
Value Assessed The value of your property as decided upon by your local assessor
Property Type Residential, business, or other
Position The county or independent city your land falls in
Complete Property Tax Rate The combined tax rate per $100 of assessed value established by local governments
Releases Any reductions you qualify for, including veteran or senior exemptions

Kinds of Expenses and Results

Result What It Means
Valuation Taxable The calculated value following exemption
Annual Real Estate Tax Your yearly total tax bill
Tax Rate Division County, city, school district, and other rates’ tax load
Exemptive Savings The savings achieved by exemption

Sample Calculations and Example Sceneries

Using accurate property tax rates from reputable sources, below are sample calculations for several Virginia properties.

# Property Type Assessed Value Location Effective Rate Exemptions Yearly Tax
1 Residential $400,000 Fairfax County 1.03% $0 $4,120
2 Residential $300,000 Henricho County 0.67% $0 $2,010
3 Residential $600,000 Arlington County 0.89% $0 $5,340
4 Commercial $500,000 Loudoun County 0.91% $0 $4,550
5 Residential $350,000 Virgin Beach 0.82% $0 $2,870

Regarding First Example:

  • Evaluated Value: $400,000
  • Effective Rate: 1.03% ($1.03 every $100).
  • Calculation: $400,000 × 0.0103 = $4,120.

Regarding Example 2:

  • Valued at $300,000
  • Effective Rate: 0.67% (or $0.67 every $100).
  • Calculation: $300,000 × 0.0067 = $2,010 for property tax.

Interactive Tables and Charts Breakdown for Fairfax County Residential Property valued $400,000

Component Quantity
Valued $400,000
Efficient Tax Rate 1.03%
Exemptions Value 0
Annual Property Tax $4,120

Pie Chart – $400,000 Property Tax Distribution

  • Property Tax: About 1.03% of evaluated value
  • Value Without Taxes: ~98.97%

(Note: Based on the effective tax rate, the pie chart shows approximations.)

Commonly Asked Questions (FAQs)

Q1: Where can I get the assessed value of my property?
Usually sent annually, check your property tax statement or call the office of your local assessor. For specifics, also visit the website of your county.

Q2: Describe a reasonable property tax rate.
A county or city’s median property tax paid as a percentage of the median home value is its effective property tax rate. It is used for estimation but might not match the real rate used on your property.

Q3: Is Virginia exempt from any?
A lot of localities provide exemptions for veterans, seniors, or homes modified with accessibility features—e.g., the Livable Home Tax Credit of up to $6,500. See your local assessor about eligibility.

Q4: This calculator’s accuracy level?
It offers estimates grounded in median effective tax rates. Use the assessed value of your property and the particular tax rate applicable in your tax district for exact figures.

Q5: Virginian property taxes are due when?
Usually due in two payments—often May 5 and October 5—property taxes vary depending on the locality. For instance, the taxes due in Franklin County fall on December 5.

Can I challenge my property assessment?
You can appeal to your local board of equalization or the Board of Equalization and Assessment Review should you feel your estimated value is erroneous. Get the process from the office of your assessor.

Why Would One Use the Virginia Property Tax Calculator?

Local administration of Virginia’s property tax system allows rates to vary greatly by county and city, ranging from 0.46% in Buchanan County to 0.94% in Falls Church. This calculator guides you through these fluctuations, projects your tax due, and schedules for exemptions similar to those for veterans or seniors. This tool gives clarity and confidence whether you’re budgeting for a commercial property in Roanoke or a house in Alexandria.

Find other property tax calculators for other states of USA here: