Property Tax Calculator
Estimate your annual property tax based on your home value and state. See how your state compares, understand assessment ratios, and factor in homestead exemptions.
Annual Property Tax
$6,400
$533 per month
| Detail | Value |
|---|---|
| Home Value | $400,000 |
| Assessment Ratio | 100.00% |
| Assessed Value | $400,000 |
| Taxable Value | $400,000 |
| State Average Rate (Texas) | 1.60% |
| Effective Rate | 1.60% |
Annual Tax
$6,400Monthly Escrow
$533Effective Rate
1.60%Based on state average effective property tax rates from the Tax Foundation and U.S. Census Bureau. Actual rates vary by county and municipality. Contact your local assessor's office for exact rates.
Frequently Asked Questions
How is property tax calculated?
Property tax = assessed value × tax rate. The assessed value is your home's market value multiplied by the local assessment ratio (which varies by state from 4% to 100%). The tax rate (mill rate) is set by your local government. This calculator uses state average effective rates.
Which states have the highest property taxes?
New Jersey (2.23%), Illinois (1.97%), Connecticut (1.95%), New Hampshire (1.86%), and Vermont (1.78%) have the highest average effective property tax rates. Hawaii (0.27%), Alabama (0.37%), Colorado (0.49%), and Louisiana (0.51%) have the lowest.
What is a homestead exemption?
A homestead exemption reduces the taxable value of your primary residence. For example, Texas offers a $100,000 school district homestead exemption. The exemption amount and eligibility vary by state and local jurisdiction.
Can I deduct property tax on my federal return?
Yes, if you itemize deductions. Property taxes are part of the SALT (State and Local Taxes) deduction, which is capped at $10,000 per year ($5,000 if married filing separately) under TCJA.
Sources
Editorial standards
How this page is maintained
USTax Tools updates calculator assumptions and page copy against official source material. We publish for general educational use, not individualized tax advice.
Last reviewed
March 2026
Coverage
2025 property tax estimates
Primary sources
U.S. Census Bureau and Tax Foundation data