Assessed value = market value x assessment ratio. Tax = (assessed value - exemptions) x rate. 1 mill = 0.001, so 25 mills = 0.025.
- 510 national questions + 5 state banks
- Timed simulator matched to your vendor
- 90 days, one-time - emailed to you after purchase
Emailed to you after purchase. Supplemental exam prep, not pre-licensing hours. 14-day money-back guarantee. Refund policy
Worked example
Market value $300,000, assessment ratio 40%, tax rate 25 mills, homestead exemption $25,000.
- Assessed value: $300,000 x 0.40 = $120,000
- Taxable value: $120,000 - $25,000 = $95,000
- Tax: $95,000 x 0.025 = $2,375 (without the exemption: $3,000)
Here is the trap
- Mills vs percent. 25 mills is 2.5%, not 25%.
- Exemption timing. Subtract it from assessed value, not from the tax bill (unless the question says it is a tax credit).
- Rate per $100. Some questions quote “$2.50 per $100” - that is also 2.5%.
Property tax solver
- 510 national questions + 5 state banks
- Timed simulator matched to your vendor
- 90 days, one-time - emailed to you after purchase
Emailed to you after purchase. Supplemental exam prep, not pre-licensing hours. 14-day money-back guarantee. Refund policy
Practice tool for exam-style math. Check your state and contract for local conventions.
Ready for the full bank?
510 national questions + state banks for CA, FL, GA, NY and TX, a timed simulator in your vendor’s format, and weakness tracking. $19 one-time for 90 days, emailed to you after purchase.
- 510 national questions + 5 state banks
- Timed simulator matched to your vendor
- 90 days, one-time - emailed to you after purchase
Emailed to you after purchase. Supplemental exam prep, not pre-licensing hours. 14-day money-back guarantee. Refund policy