A digital tire pressure gauge has a housing having a first and a second end. A port at the first end of the housing is adapted to engage with and open a needle valve of a tire valve stem. The gauge also includes a pressure sensor and a processor in electronic communication with the pressure sensor. A bleed valve is disposed in the housing and a bleed lever is in contact engagement with the bleed valve. When the port is coupled to the tire valve stem, in a first operational mode, the bleed valve is closed and an air pressure measurement is obtained. In a second operational mode, pressing the bleed lever causes the bleed valve to open and to allow air to be bled out from the tire via the pressure gauge.