Property Tax Calculator
Estimate your annual property tax based on home value and local tax rate. Compare effective property tax rates across US states.
Effective Property Tax Rates by State
Frequently Asked Questions
How is property tax calculated?
Property tax = Assessed Value x Tax Rate. The assessed value is typically a percentage of market value (the assessment ratio). Tax rates are set by local governments and expressed as a percentage or millage rate.
What is an assessment ratio?
The assessment ratio is the percentage of market value used to calculate assessed value. Some states assess at 100% of market value, others at lower percentages. For example, a $300,000 home with an 80% ratio has an assessed value of $240,000.
Which states have the highest property taxes?
New Jersey (2.23%), Illinois (2.07%), New Hampshire (1.93%), and Connecticut (1.79%) have the highest effective rates. Hawaii (0.27%) and Alabama (0.37%) have the lowest.