Property Tax Estimator

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Estimate annual property tax for any US state. Select your state for the average effective rate, or enter a custom rate. Monthly escrow amount included.

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Estimated Annual Property Tax

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Monthly (escrow)$0
Quarterly$0
Effective Rate Used0%
Taxable Value (after exemption)$0
Tax as % of Home Value0%

🗺️ Property Tax Rates by State

📐 Property Tax Formula

Taxable Value = Home Value − Homestead Exemption
Annual Tax = Taxable Value × Effective Rate %
Monthly Escrow = Annual Tax ÷ 12
Note: Actual bills depend on your county's assessed value ratio and mill rate. This calculator uses state average effective rates.

How Property Tax Works in the USA

Property tax is an annual tax levied by local governments (county, city, school district) on real estate. The tax is calculated using the property's assessed value multiplied by the local mill rate. Because assessed value often differs from market value, we use the effective rate — the tax as a direct percentage of market value — to give a consistent comparison across states.

Homestead Exemptions — Reduce Your Tax Bill

Most US states offer homestead exemptions that reduce the taxable value of your primary residence. Florida offers up to $50,000. Texas exempts $100,000 of school district taxes for homeowners 65+. California's Proposition 19 limits assessed value increases to 2% per year. Enter your exemption amount in the calculator above to see the impact.

States with No Property Tax?

Every US state levies some form of property tax, but rates vary enormously. Hawaii's effective rate of 0.28% is so low that despite median home values exceeding $700,000, annual tax bills average under $2,000. By contrast, New Jersey's 2.23% rate means a $400,000 home owner pays nearly $9,000 per year. The difference compounds significantly over 30-year ownership.

How to Appeal Your Property Tax Assessment

If you believe your property's assessed value is too high, you can appeal to your local assessor's office. Gather evidence: recent comparable sales in your neighborhood, a private appraisal, or photos documenting property condition issues. Most jurisdictions allow appeals within 30–90 days of receiving your assessment notice. Successful appeals can reduce your tax bill permanently.

In South Africa, the equivalent of property tax is municipal rates — levied by municipalities on the market value of property under the Municipal Property Rates Act. SA rates vary significantly by municipality, property category (residential, commercial, agricultural), and the municipality's own valuation roll. Unlike the US where property taxes are the primary local revenue source, SA municipalities also levy separate charges for water, electricity, sewerage, and refuse removal. If you're looking at the full cost of owning property in South Africa, SA Property Tools includes municipal cost calculators and a full breakdown of SA property ownership costs.

How to Use the Property Tax Estimator

1

Enter your home's assessed value

Input your property's assessed value — found on your most recent tax bill or county assessor website. Assessed value is often 80–100% of market value, but varies significantly by jurisdiction.

2

Enter the effective tax rate

Use the effective tax rate for your county or municipality. The calculator includes a reference table for all US states. Local rates within a state can vary by 2–3× from the state average.

3

Add any exemptions

Homestead exemptions reduce your taxable assessed value. Common amounts: $25,000–$50,000 in Florida, $25,000 in Texas, variable amounts in most other states. Enter the exemption dollar amount, not percentage.

4

Review the annual and monthly figures

Property tax is an annual bill but is typically escrowed monthly by your mortgage lender. Divide the annual estimate by 12 to check against your escrow payment on your mortgage statement.

How to Calculate Property Tax by Hand: Worked Example

Take a home with an assessed value of $380,000 in a jurisdiction with a 1.1% effective tax rate.

Without any exemption: $380,000 × 0.011 = $4,180/year, or about $348/month if escrowed into the mortgage payment.

With a $25,000 homestead exemption (available in many states for an owner-occupied primary residence): taxable value = $380,000 − $25,000 = $355,000. Tax = $355,000 × 0.011 = $3,905/year — a saving of $275/year, applied automatically once the exemption is filed with the county assessor.

Why is "assessed value" often different from market value?

Many jurisdictions assess at a fraction of market value, or cap annual assessment increases even when market prices rise faster. A home with a $450,000 market value might carry a $380,000 assessed value under such rules — meaning the effective tax rate applied to market value can look lower than the jurisdiction's stated mill rate. Always confirm whether a quoted rate applies to assessed or market value before comparing two properties in different counties.

How Can You Legally Reduce Your Property Tax Bill?

What exemptions exist beyond the standard homestead exemption?

Many jurisdictions offer additional exemptions for seniors, veterans, and disabled homeowners, sometimes stacking with the standard homestead exemption for a larger combined reduction. Eligibility and exemption amounts vary widely by state and county, so checking the local assessor's office directly is worth more than any general rule of thumb.

Is it worth appealing your assessment?

If comparable homes in your area sold for meaningfully less than your assessed value, an appeal can succeed — successfully lowering the $380,000 assessment above to, say, $350,000 would save $330/year at this jurisdiction's rate. Appeals typically require recent comparable sales data and a formal filing within a specific window after the assessment notice, so the appeal deadline matters as much as the evidence.

Do any states or jurisdictions charge no property tax?

No US state charges zero property tax, but effective rates vary enormously — some states average well under 0.5%, others average well over 2%. A buyer comparing otherwise similar homes across state lines should factor this difference directly into the affordability calculation, since a 1.5-percentage-point rate gap on a $380,000 home is over $5,700 per year — often larger than the difference in insurance or even a meaningful chunk of the mortgage payment difference.

Frequently Asked Questions

Hawaii has the lowest effective property tax rate in the US at approximately 0.28% of assessed value. Alabama (0.40%), Colorado (0.51%), and Nevada (0.53%) also rank among the lowest. Despite Hawaii's low rate, high home values mean actual dollar amounts can still be substantial.
New Jersey has the highest effective property tax rate in the US at approximately 2.23%. Illinois (2.08%), Connecticut (1.92%), and New Hampshire (1.86%) also rank near the top. On a $400,000 home, New Jersey homeowners pay approximately $8,920 per year in property taxes.
Property Tax = Assessed Value × Mill Rate (tax rate). The assessed value is often a percentage of market value (the assessment ratio varies by county). The mill rate is set annually by local government. For example: $400,000 home × 1.0% effective rate = $4,000/year. This calculator uses average effective rates which already account for assessment ratios.
Property tax = assessed value × mill rate (or tax rate). Assessed value is typically 70–100% of market value depending on state. Mill rate is expressed per $1,000 of assessed value. Example: $350,000 assessed value × 1.2% effective rate = $4,200/year. Effective rates range from 0.28% (Hawaii) to 2.47% (New Jersey).
Yes. Most US counties allow annual appeals within a set window (typically 30–90 days after assessment notices are mailed). To appeal: gather comparable sales (similar homes that sold for less than your assessed value), attend the appeals board hearing, and present your evidence. Successful appeals typically reduce assessments by 10–25%. Many counties have an informal review before the formal appeal stage.

Sources & Methodology

Calculations are based on the most current publicly available data from authoritative government and industry sources: