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Property Tax Rate Formula

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Property Tax Rate is the percentage at which a property's assessed value is taxed annually by the local government. Check FAQs

PTR = AV \cdot MR

PTR - Property Tax Rate?AV - Assessed Value?MR - Mill Rate?

Property Tax Rate Example

With values

With units

Only example

Here is how the Property Tax Rate equation looks like with Values.

Here is how the Property Tax Rate equation looks like with Units.

Here is how the Property Tax Rate equation looks like.

35.6 = 35600 \cdot 0.001

35.6 = 35600 \cdot 0.001

35.6 = 35600 \cdot 0.001

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Property Tax Rate Solution

Follow our step by step solution on how to calculate Property Tax Rate?

FIRST Step Consider the formula

PTR = AV \cdot MR

Next Step Substitute values of Variables

∴

PTR = 35600 \cdot 0.001

Next Step Prepare to Evaluate

∴

PTR = 35600 \cdot 0.001

LAST Step Evaluate

∴

PTR = 35.6

Property Tax Rate Formula Elements

Variables

Property Tax Rate

Property Tax Rate is the percentage at which a property's assessed value is taxed annually by the local government.

Symbol: PTR

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Property Tax Rate

Assessed Value

Assessed Value is the amount assigned to a property by a tax assessor for taxation purposes.

Symbol: AV

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Assessed Value

Mill Rate

Mill Rate is a property tax rate expressed in mills (thousandths of a dollar), representing the amount of tax per dollar of assessed value.

Symbol: MR

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Mill Rate

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How to Evaluate Property Tax Rate?

Property Tax Rate evaluator uses Property Tax Rate = Assessed Value*Mill Rate to evaluate the Property Tax Rate, The Property Tax Rate is the percentage at which a property's assessed value is taxed annually by the local government. Property Tax Rate is denoted by PTR symbol.

How to evaluate Property Tax Rate using this online evaluator? To use this online evaluator for Property Tax Rate, enter Assessed Value (AV) & Mill Rate (MR) and hit the calculate button.

FAQs on Property Tax Rate

What is the formula to find Property Tax Rate?

The formula of Property Tax Rate is expressed as Property Tax Rate = Assessed Value*Mill Rate. Here is an example- 35.6 = 35600*0.001.

How to calculate Property Tax Rate?

With Assessed Value (AV) & Mill Rate (MR) we can find Property Tax Rate using the formula - Property Tax Rate = Assessed Value*Mill Rate.

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Property Tax Rate Formula

Property Tax Rate Example

Property Tax Rate Solution

Property Tax Rate Formula Elements

Other formulas in Mortgage and Real Estate category

How to Evaluate Property Tax Rate?

FAQs on Property Tax Rate

Variable Name