Estimate your property tax from your home's value and local rate, including exemptions and the monthly escrow cost.
Annual property tax
$4,400
1.10% of taxable value.
Usually collected in escrow.
On full market value.
At a 1.10% rate on $400,000 of taxable value, that's $4,400 annually, or $367 a month. Most lenders collect this in your escrow account as part of your mortgage payment. Your effective rate on the full $400,000 value is 1.10%.
Many areas offer a homestead exemption that removes part of your home's value from taxation, plus exemptions for seniors, veterans and people with disabilities. These usually require a one-time application and are frequently missed. Even a modest exemption can save hundreds a year — worth a call to your county assessor.
Property tax rates range from under 0.3% to over 2.2% across US states, and assessments can rise year to year. If your assessment jumps or seems high relative to comparable homes, you can usually appeal it — a meaningful share of appeals succeed. This estimate uses the rate you entered; confirm your actual rate with your county, since local rates aren't something to guess at.
Property tax is one part of your monthly housing cost. The mortgage calculator combines it with principal, interest, insurance and PMI for your complete payment.
Mortgage calculatorWorked scenarios with the full analysis, so you can see how the numbers move before entering your own.
A home taxed at roughly the US average rate, with no exemption applied.
Annual property tax
$4,400
At a 1.10% rate on $400,000 of taxable value, that's $4,400 annually, or $367 a month. Most lenders collect this in your escrow account as part of your mortgage payment. Your effective rate on the full $400,000 value is 1.10%.
Many areas offer a homestead exemption that removes part of your home's value from taxation, plus exemptions for seniors, veterans and people with disabilities. These usually require a one-time application and are frequently missed. Even a modest exemption can save hundreds a year — worth a call to your county assessor.
Property tax rates range from under 0.3% to over 2.2% across US states, and assessments can rise year to year. If your assessment jumps or seems high relative to comparable homes, you can usually appeal it — a meaningful share of appeals succeed. This estimate uses the rate you entered; confirm your actual rate with your county, since local rates aren't something to guess at.
A home in a high-property-tax state like New Jersey or Illinois.
Annual property tax
$8,400
At a 2.10% rate on $400,000 of taxable value, that's $8,400 annually, or $700 a month. Most lenders collect this in your escrow account as part of your mortgage payment. Your effective rate on the full $400,000 value is 2.10%.
Many areas offer a homestead exemption that removes part of your home's value from taxation, plus exemptions for seniors, veterans and people with disabilities. These usually require a one-time application and are frequently missed. Even a modest exemption can save hundreds a year — worth a call to your county assessor.
Property tax rates range from under 0.3% to over 2.2% across US states, and assessments can rise year to year. If your assessment jumps or seems high relative to comparable homes, you can usually appeal it — a meaningful share of appeals succeed. This estimate uses the rate you entered; confirm your actual rate with your county, since local rates aren't something to guess at.
A home in a low-rate state, where property tax is a smaller share of ownership cost.
Annual property tax
$2,000
At a 0.50% rate on $400,000 of taxable value, that's $2,000 annually, or $167 a month. Most lenders collect this in your escrow account as part of your mortgage payment. Your effective rate on the full $400,000 value is 0.50%.
Many areas offer a homestead exemption that removes part of your home's value from taxation, plus exemptions for seniors, veterans and people with disabilities. These usually require a one-time application and are frequently missed. Even a modest exemption can save hundreds a year — worth a call to your county assessor.
Property tax rates range from under 0.3% to over 2.2% across US states, and assessments can rise year to year. If your assessment jumps or seems high relative to comparable homes, you can usually appeal it — a meaningful share of appeals succeed. This estimate uses the rate you entered; confirm your actual rate with your county, since local rates aren't something to guess at.
A primary residence benefiting from a homestead exemption that reduces the taxable value.
Annual property tax
$4,900
At a 1.40% rate on $350,000 of taxable value (after a $50,000 exemption), that's $4,900 annually, or $408 a month. Most lenders collect this in your escrow account as part of your mortgage payment. Your effective rate on the full $400,000 value is 1.22%.
The $50,000 homestead exemption removes that value from taxation, saving you about $700 annually at your rate. Homestead and other exemptions (senior, veteran, disability) are often not automatic — you usually have to apply once. If you haven't, it's worth checking what your county offers.
Property tax rates range from under 0.3% to over 2.2% across US states, and assessments can rise year to year. If your assessment jumps or seems high relative to comparable homes, you can usually appeal it — a meaningful share of appeals succeed. This estimate uses the rate you entered; confirm your actual rate with your county, since local rates aren't something to guess at.
Property tax is your home's taxable value multiplied by a local tax rate set by your county, city, school district and other local authorities combined. The taxable value is usually the assessed value — which may differ from market value — minus any exemptions you qualify for. Because the rate is local, two identical homes in different towns can have very different tax bills.
This calculator uses the rate you enter, because local property tax rates aren't something to estimate from a formula — they're set locally and vary widely. Your actual rate is on your tax bill or available from your county assessor. The US average is around 1.1%, but rates range from under 0.3% to over 2.2% depending on the state and locality.
Most areas offer exemptions that reduce your taxable value: a homestead exemption for your primary residence is the most common, with additional exemptions for seniors, veterans and people with disabilities. These usually require a one-time application and are surprisingly often missed — claiming one you're entitled to can save hundreds of dollars a year, every year.
If your assessment rises sharply or looks high compared to similar nearby homes, you can appeal it. The process varies by county but generally involves submitting comparable sales or an independent appraisal. A meaningful share of appeals succeed in lowering the assessment, and because property tax recurs annually, a successful appeal keeps paying off for years.
Property tax rates are local and vary widely. Use your actual rate from your tax bill, not a national average, for an accurate figure.
Homestead and other exemptions often require a one-time application and are frequently missed, leaving hundreds a year on the table.
If your assessment jumps or exceeds comparable homes, an appeal can lower it — and the savings recur every year.
Assessments and rates increase. Budgeting today's tax bill for the long term understates future housing costs.
A low price in a high-tax area can cost more monthly than a higher price in a low-tax area. Factor tax into affordability.
It's your home's taxable value times a local rate, which varies enormously — from under 0.3% to over 2.2% across US states, averaging about 1.1%. On a $400,000 home at 1.1%, that's roughly $4,400 a year, or $367 a month. Enter your home value and local rate above for an estimate; find your actual rate on your tax bill.
Multiply your home's taxable value (assessed value minus any exemptions) by your combined local tax rate. The rate is set by your county, city, school district and other authorities together. Because rates are local, this calculator asks you to enter yours rather than guessing — it's on your tax bill or from your county assessor.
A homestead exemption reduces the taxable value of your primary residence, lowering your property tax. The amount and rules vary by area — some exempt a fixed dollar amount, others a percentage. It usually requires a one-time application and is often missed. Additional exemptions exist for seniors, veterans and people with disabilities.
Claim every exemption you qualify for (homestead, senior, veteran, disability), and appeal your assessment if it seems high relative to comparable homes. A successful appeal lowers the assessed value, and because property tax recurs every year, the savings compound. Both steps are underused ways to reduce a recurring cost.
Usually, yes. Most lenders collect property tax monthly in an escrow account as part of your mortgage payment, then pay the county on your behalf when it's due. That's why your monthly payment (PITI) is higher than principal and interest alone. If you own outright, you pay the county directly, typically once or twice a year.
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