Property Tax CalculatorEstimate your annual and monthly property tax by state, millage rate and exemptions
Get a quick estimate using your state’s average effective rate, or rebuild your actual tax bill from assessed value, every millage levy and your homestead exemption — then project the next 10 years and see whether an appeal could lower it.
By Manzoor Ahmad · 13+ years of web development & SEO experienceLast updated: October 19, 2026
Estimated annual property tax
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How your bill compares
The same home taxed at different states’ average effective rates.
10-year property tax projection
Appeal check
How is property tax calculated? Property tax = taxable value × tax rate. Your local assessor sets an assessed value (market value × the local assessment ratio), you subtract any exemptions such as a homestead exemption, then multiply by the combined millage rate ÷ 1,000. A $350,000 home assessed at 100%, with a $25,000 homestead exemption and 18 mills, owes $325,000 × 18 ÷ 1,000 = $5,850 a year, or about $488 a month.
How to Use the Property Tax Calculator
- Start with a quick estimatePick your state and enter the home’s value. The calculator fills in the state’s average effective rate on owner-occupied homes.
- Switch to your tax bill for precisionEnter the assessment ratio, your exemptions and the millage for each taxing authority — county, city, schools and special districts.
- Project the next 10 yearsAdd expected home-value growth, any assessment cap and rate changes to see how your bill could rise.
- Check whether to appealEnter what you believe the home is worth. If it’s below the assessment, you’ll see the potential yearly savings from a successful appeal.
Property Tax Formula
Assessed value: Market value × assessment ratio
Taxable value: Assessed value − exemptions
Property tax (millage): Taxable value × total mills ÷ 1,000
Property tax (percentage): Taxable value × tax rate ÷ 100 · 10 mills = 1%
Worked example
- Market value $350,000 × 100% assessment ratio = $350,000 assessed
- Less $25,000 homestead exemption = $325,000 taxable
- Millage: county 5.2 + city 3.8 + school 8.1 + special 0.9 = 18.0 mills
- Tax: $325,000 × 18 ÷ 1,000 = $5,850 a year
- Monthly escrow: $5,850 ÷ 12 = $487.50
- Effective rate: $5,850 ÷ $350,000 = 1.67%
Nominal rate vs. effective rate
The nominal rate (millage) applies to taxable value. The effective rate is what you actually pay as a share of market value, after assessment ratios and exemptions. In the example, 18 mills (1.8%) becomes a 1.67% effective rate because of the homestead exemption.
Effective rates are the fair way to compare places: a county with a high millage but a low assessment ratio can tax a home less than a county with a lower millage and full-value assessments.
Property Tax Rates by State (2026)
Average effective property tax rates on owner-occupied housing, from the Tax Foundation’s 2026 tables based on U.S. Census American Community Survey data, with the yearly tax on a $350,000 home at that rate. Rates within a state vary widely by county and city.
| State | Effective rate | Tax on $350,000 home |
|---|---|---|
| Alabama | 0.37% | $1,295 |
| Alaska | 0.94% | $3,290 |
| Arizona | 0.48% | $1,680 |
| Arkansas | 0.56% | $1,960 |
| California | 0.70% | $2,450 |
| Colorado | 0.50% | $1,750 |
| Connecticut | 1.54% | $5,390 |
| Delaware | 0.54% | $1,890 |
| District of Columbia | 0.56% | $1,960 |
| Florida | 0.78% | $2,730 |
| Georgia | 0.79% | $2,765 |
| Hawaii | 0.29% | $1,015 |
| Idaho | 0.50% | $1,750 |
| Illinois | 1.88% | $6,580 |
| Indiana | 0.76% | $2,660 |
| Iowa | 1.33% | $4,655 |
| Kansas | 1.21% | $4,235 |
| Kentucky | 0.74% | $2,590 |
| Louisiana | 0.55% | $1,925 |
| Maine | 0.98% | $3,430 |
| Maryland | 0.92% | $3,220 |
| Massachusetts | 1.00% | $3,500 |
| Michigan | 1.19% | $4,165 |
| Minnesota | 1.00% | $3,500 |
| Mississippi | 0.58% | $2,030 |
| Missouri | 0.89% | $3,115 |
| Montana | 0.61% | $2,135 |
| Nebraska | 1.44% | $5,040 |
| Nevada | 0.50% | $1,750 |
| New Hampshire | 1.50% | $5,250 |
| New Jersey | 1.88% | $6,580 |
| New Mexico | 0.63% | $2,205 |
| New York | 1.30% | $4,550 |
| North Carolina | 0.66% | $2,310 |
| North Dakota | 0.92% | $3,220 |
| Ohio | 1.36% | $4,760 |
| Oklahoma | 0.79% | $2,765 |
| Oregon | 0.81% | $2,835 |
| Pennsylvania | 1.26% | $4,410 |
| Rhode Island | 1.12% | $3,920 |
| South Carolina | 0.49% | $1,715 |
| South Dakota | 1.00% | $3,500 |
| Tennessee | 0.52% | $1,820 |
| Texas | 1.40% | $4,900 |
| Utah | 0.48% | $1,680 |
| Vermont | 1.51% | $5,285 |
| Virginia | 0.78% | $2,730 |
| Washington | 0.75% | $2,625 |
| West Virginia | 0.51% | $1,785 |
| Wisconsin | 1.32% | $4,620 |
| Wyoming | 0.53% | $1,855 |
New Jersey and Illinois have the highest average effective rates (1.88%); Hawaii has the lowest (0.29%). Source: Tax Foundation, Property Taxes by State and County, 2026.
Exemptions, Assessment Caps and How to Lower Your Property Tax
Common property tax exemptions
- Homestead exemption: reduces the taxable value of your primary residence; amounts and rules are set by each state.
- Senior exemptions or freezes: many areas cut or freeze taxes for homeowners above a set age, often with income limits.
- Veteran and disability exemptions: partial or full exemptions for qualifying veterans and people with disabilities.
- Circuit breakers: credits that limit property tax as a share of household income.
Most exemptions are not automatic — you must apply with your county assessor, usually once.
Assessment caps
Some states limit how quickly the assessed value of a home can rise. California’s Proposition 13 caps annual increases at 2% until the home is sold, and Florida’s Save Our Homes limits homestead increases to 3% or inflation, whichever is lower. Over time a cap can leave long-time owners paying far less than a new buyer of an identical home.
That’s also why buyers should never rely on the seller’s tax bill: in capped states a sale often resets the assessment to the purchase price.
How to appeal your assessment
- Check the assessor’s record for errors in square footage, bedrooms, lot size or condition.
- Gather 3–5 recent sales of comparable homes that sold for less than your assessed value.
- File before your county’s appeal deadline — often 30 to 90 days after notices are mailed.
- Present the evidence at an informal review or the board of equalization hearing.
Property tax and your income tax
If you itemize, state and local taxes — including property tax — are deductible up to the SALT cap. For 2026 the cap is $40,400 ($20,200 if married filing separately), reduced for incomes above $505,000 but never below $10,000. The cap is scheduled to return to $10,000 in 2030.
Property taxes on rental property are a separate business expense and aren’t subject to the SALT cap.
Related Home and Property Calculators
Property tax touches almost every housing decision. These tools carry the number into the next step.
Property Tax FAQs
Multiply the home’s assessed value by the local assessment ratio if your area uses one, subtract exemptions to get taxable value, then multiply by the total millage rate and divide by 1,000. If you know the percentage rate instead, multiply taxable value by that rate.
A mill is one-thousandth of a dollar, so one mill equals $1 of tax for every $1,000 of taxable value. A total rate of 18 mills is the same as 1.8%. Your bill usually lists separate millage for the county, city, school district and special districts.
It depends heavily on location. At typical state average effective rates, it ranges from about $870 a year in Hawaii (0.29%) to about $5,640 in New Jersey or Illinois (1.88%). Use your county’s rate and exemptions for a reliable figure.
According to the Tax Foundation’s 2026 data, New Jersey and Illinois have the highest average effective property tax rates at 1.88%, followed by Connecticut (1.54%), Vermont and New Hampshire. Hawaii has the lowest at 0.29%, followed by Alabama (0.37%).
Market value is what the home would likely sell for. Assessed value is the figure the assessor uses for tax, which may be a set percentage of market value, lag behind the market, or be held down by an assessment cap.
Multiply the exemption amount by your tax rate. A $25,000 exemption at 18 mills saves $25,000 × 18 ÷ 1,000 = $450 a year. Some states offer percentage-based exemptions or limit increases instead of a flat amount.
Often, yes. Many lenders collect one-twelfth of your estimated annual property tax each month in an escrow account and pay the bill for you. If taxes rise, your monthly payment rises at the next escrow review.
Either your assessed value rose, local governments raised millage rates, an exemption expired, or new levies were approved by voters. Compare this year’s and last year’s bills line by line to see which changed.
Frequently. In states with assessment caps, a sale can reset the assessed value to the purchase price, and the seller’s exemptions don’t transfer to you. Estimate taxes on your purchase price, not the seller’s current bill.
If you itemize, yes, within the state and local tax (SALT) cap — $40,400 for 2026, reduced for incomes above $505,000 but never below $10,000. Property tax on rental property is deducted as a business expense instead.
Yes. Every state has an appeal process. You’ll need evidence such as recent comparable sales or errors in the assessor’s record, and you must file by your county’s deadline. A successful appeal lowers the assessed value and therefore the tax.
Yes. It is free, needs no sign-up and runs entirely in your browser. Your home value and tax details are not sent to DexoCalc or stored.
Manzoor Ahmad
13+ years of web development & SEO experience · Founder, DexoCalc
Manzoor builds and maintains every DexoCalc calculator, including the full mortgage library. This tool follows the assessment-ratio, exemption and millage method used on U.S. property tax bills, and its state rates come from the Tax Foundation’s 2026 analysis of Census data.
Sources
Results are estimates. Your actual bill depends on your local assessor’s valuation, exemptions you qualify for and rates set by each taxing authority. Check your county assessor or treasurer for exact figures, and consult a tax professional about deductions.