Property Tax Calculator
Estimate your annual property tax bill and compare effective rates across all 50 states.
Property Details
Annual Tax
$4,200
Monthly
$350
Effective Rate
1.20%
Details
Your estimated property tax is $350 above the national average. Consider reviewing homestead exemptions and assessment appeals.
Disclaimer
Estimates based on statewide average rates. Actual taxes depend on county, municipality, and assessment values. Contact your local assessor for precise figures.
How Property Taxes Work
Property taxes are assessed by local governments based on the assessed value of your property multiplied by the local mill rate. The assessed value may be less than market value — many states assess at 80-100% of market value, while some (like South Carolina) use ratios as low as 4% for owner-occupied homes.
Highest and Lowest Property Tax States
| Highest | Rate | Lowest | Rate |
|---|---|---|---|
| New Jersey | 2.23% | Hawaii | 0.32% |
| Illinois | 2.08% | Alabama | 0.39% |
| Connecticut | 2.00% | Louisiana | 0.55% |
| New Hampshire | 1.93% | Colorado | 0.55% |
| Vermont | 1.83% | Wyoming | 0.56% |
Homestead Exemptions
Most states offer homestead exemptions that reduce the taxable value of your primary residence. Texas, for example, provides a $100,000 school district exemption. Florida offers up to $50,000. Some states like California (Prop 13) limit annual increases to 2%. Check with your county assessor for specific exemptions you may qualify for.
Property Tax Rates by State→Frequently Asked Questions
Can I deduct property taxes on my federal return?
Yes, but the SALT (State and Local Tax) deduction is capped at $10,000 per year for combined state income, sales, and property taxes. If your SALT exceeds $10,000, you lose the excess deduction.
How do I appeal my property tax assessment?
Contact your county assessor's office to review your property's assessed value. Gather comparable sales data showing your home is overvalued. File a formal appeal within the deadline (usually 30-90 days after assessment notices go out).
Do property taxes change when I refinance?
Refinancing alone does not trigger a reassessment in most states. However, in some states, a significant renovation or addition may trigger a partial reassessment. If you refinance and the lender requires a new appraisal, that appraisal is not automatically shared with the county assessor.
Are seniors eligible for property tax relief?
Many states offer senior exemptions, tax freezes, or deferrals for homeowners over age 65. For example, Texas provides an additional $10,000 school tax exemption for seniors, and Georgia offers a full school tax exemption for homeowners 62 and older with income below $10,000.
Explore related tools: Mortgage Calculator or Closing Cost Calculator.