To calculate monthly real estate property taxes you must know the County/City assessed value and the County/City tax rate. Divide the city assessment by 100 and multiply the result by the County or City tax rate. Divide this number by 12 to obtain a monthly property tax figure.

For example:
123 Main Street in Chesapeake is selling for $120,000.

The city assessment is $100,000 & the city tax rate for Chesapeake = $1.06 / $100 of assessed value.

Therefore 100,000 / 100 = 1000 and 1000 * 1.06 = $1060 / year and
1060 / 12 = $88.33 / month.

Click Here to obtain the County/City property Tax Rates.