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US Property Tax Estimator

Estimate your annual property tax based on home value, state, assessment ratio, and homestead exemption.

Property Details

Property Market Value

State

County (Optional)

For reference only — this estimate uses state averages.

Homestead Exemption

Assessment Ratio Override (Optional)

The percentage of market value used for tax assessment. Leave blank to use the state default.

How Property Taxes Work

Property taxes are levied by local governments (counties, cities, school districts, and special districts) to fund public services like schools, roads, police, and fire departments. They are typically the largest source of revenue for local governments and one of the biggest ongoing costs of homeownership.

Assessed Value vs. Market Value

Your property tax is not calculated on the full market value in every state. Many states apply an assessment ratio to determine the "assessed value" — the value on which taxes are actually computed. For example, if your home is worth $300,000 and your state has a 40% assessment ratio, your assessed value is $120,000.

Assessment ratios vary significantly. States like California, Florida, and Idaho assess at 100% of market value. Others like South Carolina (4%), Colorado (6.5%), and Alabama (10%) use much lower ratios, but compensate with higher millage rates.

Homestead Exemptions

Many states offer a homestead exemption that reduces the taxable value of your primary residence. For example, Texas offers a $100,000 exemption for school district taxes, meaning a $350,000 home would only be taxed on $250,000. Florida offers up to $50,000, and Hawaii up to $100,000. These exemptions are typically only available for your primary residence — investment properties and second homes do not qualify.

Property Tax Rates by State

The 2026 Tax Foundation table reports statewide effective property tax rates (as a percentage of owner-occupied housing value) that vary dramatically:

Highest: Illinois and New Jersey (~1.88%), Connecticut (~1.54%), Vermont (~1.51%)
Lowest: Hawaii (~0.29%), Alabama (~0.37%), Arizona and Utah (~0.48%)

Keep in mind that actual rates vary within each state based on your county, city, and local school district. This calculator uses statewide 2024 ACS estimates published in Tax Foundation's 2026 table and is intended for estimation only. Contact your county assessor's office for exact rates and assessed values.

Property Tax and Your Mortgage

Most mortgage lenders require you to pay property taxes through an escrow account. Each month, 1/12 of your estimated annual tax bill is added to your mortgage payment. The lender holds these funds and pays your property tax bill when it's due. This is why the "monthly (escrow)" figure above is useful when budgeting for total housing costs.

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How to Use the US Property Tax Estimator

1
Enter your values
Open the US Property Tax Estimator and fill in the required input fields with your numbers or selections.
2
Review the calculation
The tool automatically computes the result as you type. Double-check your inputs to ensure accuracy.
3
Interpret your results
Review the calculated output along with any breakdowns, charts, or explanations provided to understand what the numbers mean for your situation.

Sources & Verification

Tax rates verified against official government sources for current published tax years

Tax Foundation 2026 Property Tax Table U.S. Census Bureau American Community Survey

Published by ConvertCrunch Editorial Team | Our Methodology

Frequently Asked Questions

How is property tax calculated in the US?

Property tax is calculated by multiplying your property's assessed value by the local tax rate (mill rate). The assessed value is determined by your county assessor and may differ from market value -- most jurisdictions use an assessment ratio ranging from 10% to 100% of fair market value. The tax rate is set by local governments (county, city, school district) and expressed as a percentage or mills (one mill equals $1 per $1,000 of assessed value).

What is a homestead exemption?

A homestead exemption reduces the taxable value of your primary residence, lowering your property tax bill. The amount and eligibility vary by state. Texas offers up to $100,000 off the assessed value for school district taxes, while Florida provides a $50,000 exemption. Some states offer additional exemptions for seniors, veterans, and disabled homeowners. You typically must apply for the exemption through your county assessor's office and prove the property is your primary residence.

How often is property reassessed?

Reassessment frequency varies by jurisdiction. Some counties reassess annually, while others do it every two to five years. California's Proposition 13 limits reassessment to 2% per year unless the property is sold or substantially improved. Market changes, home improvements, and rezoning can all trigger reassessment. You have the right to appeal if you believe your assessment is too high, typically within 30 to 90 days of receiving your assessment notice.

Can I deduct property taxes on my federal return?

Yes, property taxes are deductible if you itemize deductions on your federal income tax return. However, the Tax Cuts and Jobs Act caps the total deduction for state and local taxes (including property tax, state income tax, and local taxes) at $10,000 per return ($5,000 if married filing separately). If your total SALT exceeds this cap, you will not receive a full deduction. There is no cap on the deduction for state tax purposes in most states.

Which states have the highest and lowest property taxes?

New Jersey has the highest effective property tax rate at approximately 2.23%, followed by Illinois (2.08%) and Connecticut (1.96%). Hawaii has the lowest at roughly 0.29%, followed by Alabama (0.37%) and Louisiana (0.55%). However, effective rates vary significantly by county and city within each state. A state with a low rate but high home values may still produce a large tax bill in dollar terms.

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How Property Taxes Work

Assessed Value vs. Market Value

Homestead Exemptions

Property Tax Rates by State

The 2026 Tax Foundation table reports statewide effective property tax rates (as a percentage of owner-occupied housing value) that vary dramatically:

Highest: Illinois and New Jersey (~1.88%), Connecticut (~1.54%), Vermont (~1.51%)
Lowest: Hawaii (~0.29%), Alabama (~0.37%), Arizona and Utah (~0.48%)