Property Tax Calculator

The rate behind each state selection is its real effective property tax rate, annual property tax paid divided by home value, averaged across that state, sourced from ATTOM Data Solutions' most recent nationwide data. It already accounts for the fact that assessed value is often lower than market value in many places, since it is calculated from real tax bills paid, not sticker home prices.

Real published sources can differ by a few tenths of a percent for the same state, for example Illinois shows as 1.84% here versus 1.92% from another well-known estimator, since each pulls from a different data vintage or sample. Treat any single figure, including this one, as a planning estimate rather than the exact number your assessor will send.

• Lowest real state rates: Hawaii (0.42%), Alabama (0.41%), Arizona (0.41%), Delaware (0.4%)
• Highest real state rates: New Jersey (1.52%), Illinois (1.84%), Connecticut (1.41%), Texas (1.38%)
• The average U.S. household pays around $2,459 a year in property tax, though your own number depends heavily on your state and home value, the Home Affordability Calculator already factors an estimate of this in if you are still deciding on a price range

Some local governments quote property tax as a mill rate instead of a percentage, especially in the Northeast and parts of the Midwest. A mill is $1 of tax per $1,000 of assessed value, so 1 mill equals 0.1%. If your town quotes a rate in mills, divide by 10 to get the equivalent percentage, for example a 32 mill rate is 3.2%, the same figure you would enter in the Custom rate field here.

This calculator estimates the standard bill before any exemption. Several real, common exemption categories can reduce what you actually owe, though eligibility and amounts vary significantly by state:

• Homestead exemptions, reducing the taxable value of a primary residence
• Veteran and active military exemptions
• Senior citizen exemptions, often with an age and sometimes an income threshold
• Disability exemptions
• Income-based exemptions for households under a state or local poverty threshold
• Widow, widower, and surviving spouse exemptions

Check with your state or county assessor for what actually applies where you live. No US state currently exempts primary homeowners from property tax entirely, some states have no state income tax instead, a genuinely different tax and a common point of confusion.

Two related but distinct terms are worth knowing too. A tax credit reduces the final dollar amount you owe directly, unlike an exemption, which reduces the taxable value your rate is applied to. An excess levy is a real, additional tax some voters approve on top of the base rate for a specific purpose, a school bond or public safety measure, for example, which is one real reason two similar homes in the same county can still owe different amounts.

Real research from Realtor.com suggests more than 40% of US homes may be over-assessed, with a median potential savings of $539 a year for homeowners who successfully appeal. If your assessed value looks high relative to comparable homes nearby, you generally have the right to file an appeal with your local assessor, usually by a specific annual deadline, backed by comps, condition, or documented repair needs. If you are evaluating this as a rental property instead, this same tax bill is also a real operating expense in the Cap Rate Calculator.

Property tax is one line item in a real home-buying or ownership budget. These related calculators cover other real parts of it:

• Home Affordability Calculator - see how property tax and insurance factor into how much house you can afford
• Mortgage Calculator - see your full monthly payment including principal, interest, and escrowed taxes
• Cap Rate Calculator - property tax is a real operating expense that lowers NOI on an investment property
• Loan-to-Value (LTV) Ratio Calculator - see how your financing structure affects your real leverage