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how to calculate how much you can afford (beyond mortgage calculator)

Does the mortgage calculator take in consideration property taxes? I am looking to relocate to Katy TX. I know what we can afford based on mortgage payments/calculator but that may need adjusting due to the property taxes.

How do you calculate property taxes that will be paid monthly?
  • November 18 2011 - Zachary
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Answers (2)

Hi Katy,

Great question!  You can find out by searching for the tax assessors value on the property you like.  Take that value and multiply it by the tax/millage rate in that area and you get the yearly amount.  Then divide by 12 for a monthly amount.  There are going to be different tax rates if you decide to make that your principal residence or if it is an investment.  Also, there are different taxes in each separate state as well.  Your Realtor can help you with all of that info!  Good Luck with the move!

Tim
  • November 18 2011
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Ask a local real estate agent or call the county assessors office. Then plug in that amount.

Happy funding, Rudi
  • November 18 2011
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