Property Tax Calculator
Estimate your annual and monthly property tax bill from your home's value, your area's assessment ratio, any exemptions, and the local tax rate or mill rate.
How property tax is calculated
Property tax = (assessed value − exemptions) × tax rate. Your local assessor first sets an assessed value, which in many states is the full market value and in others is a fixed percentage of it (the assessment ratio). Exemptions — such as a homestead exemption for your primary residence, or senior, veteran, and disability exemptions — are subtracted next. The total tax rate is the sum of every taxing authority that covers your address: county, city, school district, and special districts.
Percent vs. mill rates
Some areas publish rates as a percentage (for example 1.1%), others as a mill rate: dollars of tax per $1,000 of taxable value. 1 mill = 0.1%, so a 22-mill rate equals 2.2%. Pick the format your county uses and the calculator converts it for you.
How much do property taxes vary?
A lot. Using calendar-year 2022 Census data, the Tax Foundation found effective rates on owner-occupied homes ranging from about 2.08% in New Jersey, 1.95% in Illinois, and 1.78% in Connecticut down to about 0.26% in Hawaii, 0.36% in Alabama, and 0.44% in Nevada. Rates also vary widely from county to county within a state, so your county assessor's or tax collector's website is the best source for your exact rate.
Using the result
Most lenders collect one-twelfth of your annual property tax each month through escrow, so the monthly figure above is what you'd add to your mortgage payment. Plug it into our mortgage calculator or home affordability calculator to see the full picture.
Frequently asked questions
Where do I find my property tax rate?
Your county assessor, appraisal district, or tax collector publishes the combined rate for your address — often on the most recent tax bill or the county's online property search.
What is a homestead exemption?
A homestead exemption reduces the taxable value of your primary residence. The amount and rules vary by state and sometimes by county, and you usually have to apply for it once after buying.
Why is my tax bill different from the purchase price × rate?
Your assessed value can differ from what you paid, assessment ratios may apply, and exemptions or caps on annual assessment increases can lower the taxable value. Reassessment after a sale can also raise it.
Can I appeal my property tax assessment?
Yes. Most jurisdictions let you protest your assessed value within a set window each year, typically by showing comparable sales or errors in the property record.