Property Tax Calculator
Estimate your property tax from your home value and state. Pick your state to auto-fill its average effective rate, add a homestead exemption, and see the annual bill and the monthly escrow amount. A $350,000 home at 1.1% owes about $3,850 a year.
$3,850 / year
$320.83/month in escrow · effective rate 1.10% of value
Effective rates are state averages (Tax Foundation / Census ACS). Your local rate, assessment ratio and exemptions vary by county — adjust the rate for an exact bill. How we calculate →
How property tax is calculated
Property tax is your home's taxable value multiplied by the local tax rate. The simplest form is tax = home value × (rate ÷ 100): a $350,000 home at a 1.1% effective rate owes about $3,850 a year. Enter your home value and pick your state above and the calculator fills in the average effective rate and the monthly escrow amount.
In practice, counties tax an assessed value (sometimes a fraction of market value) and apply a millage rate, then subtract any exemptions. The effective rate used here — annual tax as a share of market value — rolls all of that into one number you can compare across states.
Effective property tax rates by state
Effective rates vary enormously. The highest are in the Northeast and Midwest — New Jersey, Illinois and New Hampshire all average around 1.8–2.2% of value — while Hawaii, Alabama and Colorado sit near 0.3–0.5%. Because home values also differ, the dollar bill can rank differently from the rate: a low-rate state with high prices can still mean a large tax. Pick your state above to use its average effective rate.
Assessed value vs market value
Your tax isn't always based on full market value. Many jurisdictions assess at a set ratio of market value, and some cap how fast the assessment can rise each year. Assessments also lag the market, so a recent sale price and the assessed value can differ. The county assessor's notice shows your assessed value; if it looks too high, most areas let you appeal.
Homestead and other exemptions
Most states offer a homestead exemption that removes a fixed amount from the taxable value of your primary residence, with extra exemptions for seniors, veterans and people with disabilities. Enter your exemption above and the calculator subtracts it before applying the rate. Exemptions can cut a bill meaningfully, especially on lower-value homes.
Property tax in your mortgage escrow
If you have a mortgage, the lender usually collects property tax monthly through an escrow account and pays the county on your behalf. That's why the calculator shows a monthly figure alongside the annual one — divide the annual tax by 12. When rates or assessments rise, your escrow (and monthly payment) can change even on a fixed-rate loan.
Frequently asked questions
How is property tax calculated?
Multiply your home's taxable value by the local tax rate. For example, a $350,000 home at a 1.1% effective rate owes about $3,850 a year. Counties tax an assessed value and apply a millage rate, minus exemptions; the calculator uses your state's average effective rate.
What is the average property tax in the US?
The national average effective rate is roughly 0.9–1.1% of home value, but it ranges from about 0.3% (Hawaii) to over 2% (New Jersey, Illinois). Pick your state above for its average rate and median bill.
Which states have the highest and lowest property taxes?
By effective rate, New Jersey, Illinois and New Hampshire are highest (around 1.8–2.2%), while Hawaii, Alabama and Colorado are lowest (around 0.3–0.5%). Because home values differ, the dollar amount can rank differently from the rate.
What is a homestead exemption?
It's a reduction in the taxable value of your primary residence — a fixed dollar amount removed before the rate is applied — with extra exemptions often available for seniors, veterans and people with disabilities. Enter yours above to lower the estimate.
How much is property tax per month?
Divide the annual tax by 12. A $3,850 annual bill is about $321 a month, usually collected through your mortgage escrow account. The calculator shows both the annual and monthly figures.
How can I lower my property tax?
Claim every exemption you qualify for, check your assessment for errors, and appeal if the assessed value looks too high versus comparable sales. The tax rate itself is set locally, but your assessed value and exemptions are where most savings come from.
Property tax calculator by state (2026 rates)
Get your state's average effective rate, median bill and an instant estimate:
Researched & verified by the Calcuris Data & Research Team. How we build and check our tools →