Property Tax Calculator
Estimate your annual and monthly property tax based on your home's assessed value and local tax rate.
Property Tax Estimate
Property tax is calculated by multiplying your home’s assessed value by your local tax rate.
Annual Property Tax = Assessed Home Value × (Tax Rate / 100)
Monthly Property Tax = Annual Property Tax / 12
How assessed value works:
- Many jurisdictions assess property at a fraction of market value
- Some states use 100% of fair market value, others use a percentage
- The assessment ratio varies by state (e.g., 80%, 100%)
Typical property tax rates in the US:
- Low: 0.3% – 0.6% (Hawaii, Alabama)
- Average: 0.9% – 1.2% (most states)
- High: 1.5% – 2.5% (New Jersey, Illinois, Texas)
Example: A home valued at $350,000 with a 1.2% tax rate:
- Annual tax = $350,000 × 0.012 = $4,200/year
- Monthly tax = $4,200 / 12 = $350/month