Property Tax Calculator
Estimate the annual property tax bill and the monthly escrow it adds to your mortgage. Pick a state to use its average effective rate, or enter your own county rate, assessment ratio, and homestead exemption.
Property details
How to use this calculator
1. Start with the market value
Enter what the home is worth today, not what you paid for it. Assessors in most states are supposed to track market value, though many reassess only every few years, so a recently sold home is often the most accurate anchor.
2. Pick your state, or override the rate
The state list applies that state's average effective rate — total property tax paid divided by market value. If you already know your county's combined rate or millage, put it in the override field: 18.4 mills is 1.84%, and it beats any statewide average.
3. Set the assessment ratio only when you have a nominal rate
Effective rates already account for how a state assesses property, so leave the ratio at 100% when using a state average. Drop it to your local ratio only when you have paired it with a nominal county rate in the override field — otherwise you will double-discount and understate the bill.
4. Subtract the exemptions you actually qualify for
Homestead, senior, veteran, and disability exemptions come off the assessed value before the rate is applied. Add them together in the exemption field. The monthly escrow figure is what a lender would typically collect alongside principal and interest.
About property tax
How is property tax calculated?
Your assessor sets an assessed value, subtracts any exemptions you qualify for, and multiplies the remainder by the combined tax rate levied by your county, city, school district, and any special districts. This calculator uses the same chain: market value × assessment ratio, minus exemptions, times the rate.
Why does the state rate differ from my actual bill?
The state figures here are averages across every county in that state. Two homes of equal value in the same state can owe very different amounts because school district levies, municipal budgets, and voter-approved bonds are set locally. Use the override rate field with your own county's rate for a closer estimate.
What is a homestead exemption?
Many states remove a fixed dollar amount from the assessed value of a home you live in before the tax rate is applied, which lowers the bill. Amounts and eligibility vary widely, and some states add extra exemptions for seniors, veterans, or people with disabilities.