How to Compute Property Tax

To calculate your property tax, use this formula:

      Assessed Value​
Property Tax = —————————- x Tax Rate
  $1,000

Where:

Assessed Value = the value of your property as determined by the town

Tax Rate = amount of tax per $1,000 of assessed value

Example 1: $300,000 Property with Tax Rate $27.52

           $300,000​
Property Tax = ———————– x $27.52
      $1,000

Property Tax = $300 x $27.52

Property Tax = $8,256

So, a $300,000 property with a tax rate of $27.52 would pay $8,256 in property taxes.

Example 2: $1,200,000 Property with Tax Rate $5.33

             $1,200,000
Property Tax = ———————– x $5.33
      $1,000

Property Tax = $1,200 x $5.33

Property Tax = $6,396

So, a $1,200,000 property with a tax rate of $5.33 would pay $6,396 in property taxes.

✅ Notice how a lower tax rate can result in lower taxes even for higher-valued properties, and a higher tax rate can result in higher taxes for lower-valued properties.