Property Tax Calculator
Estimate your annual property tax based on your home value and local tax rate. See both annual and monthly figures.
Annual Property Tax
$3,850.00
$320.83 per month
| Breakdown | Amount |
|---|---|
| Home Value | $350,000.00 |
| Tax Rate | 1.1% |
| Annual Tax | $3,850.00 |
| Monthly Tax | $320.83 |
How Property Tax Works
Property taxes are assessed by local governments — typically counties, cities, and school districts. Your tax is calculated by multiplying your property's assessed value by the local tax rate (often called the mill rate). The assessed value may be lower than market value depending on your jurisdiction's assessment ratio.
Property Tax by State
The highest property tax states include New Jersey (2.23%), Illinois (2.07%), New Hampshire (1.93%), Connecticut (1.79%), and Vermont (1.74%). The lowest include Hawaii (0.27%), Alabama (0.39%), Colorado (0.51%), and Louisiana (0.53%).
Frequently Asked Questions
What is the average property tax rate in the US?
The national average effective property tax rate is approximately 1.1% of assessed home value. However, rates vary enormously — from under 0.3% in Hawaii to over 2.2% in New Jersey.
How is property tax calculated?
Property tax = assessed value × tax rate. The assessed value may differ from market value depending on your local assessment ratio. Tax rates are set by local governments (county, city, school district).
Can I deduct property taxes on my federal return?
Yes, if you itemize. The SALT (State and Local Tax) deduction allows you to deduct up to $10,000 in state/local taxes, including property tax. Most taxpayers take the standard deduction instead.
When are property taxes due?
Payment schedules vary by jurisdiction. Most counties allow annual or semi-annual payments. If your mortgage includes escrow, your lender collects property tax monthly and pays it on your behalf.
Important Disclaimer
The figures provided by this calculator are estimates based on the information you enter and published rates at the time of writing. They do not constitute financial, tax, or legal advice, and we accept no liability for decisions made on the basis of these estimates. Your actual liability may differ depending on your individual circumstances, applicable reliefs, and any changes to rates or legislation. Always consult a qualified professional or check the latest IRS guidance at irs.gov before making financial decisions.
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