Property Tax Estimator — Free 2026
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Property Tax Estimator
Estimate your annual property tax bill based on home value, local tax rate & exemptions
↻ Updated 2026 — All 50 states
Enter your property details
Home market value ($)
Assessment ratio (%)
Tax rate (%)
Homestead exemption ($)
Most states offer $0–$50,000 in homestead exemptions for primary residences.
Estimated annual property tax
Assessed value
Taxable value
Monthly payment
Effective rate
vs. national avg
Assessment
5-year tax cost (default)
10-year tax cost (default)
1.07%
US national average rate
How Property Tax Is Calculated
Property tax is calculated in three steps: your home’s market value is multiplied by the local assessment ratio to get the assessed value, then any exemptions are subtracted to get the taxable value, and finally the local tax rate is applied.
Annual Tax = (Market Value × Assessment Ratio − Exemptions) × Tax Rate
Assessment ratios vary significantly by state. Most states assess at 100% of market value, but some (like New York and Louisiana) assess at a fraction — for example, 25%. Always check your local assessor’s website for the exact ratio and rate in your jurisdiction.
Average Property Tax Rates by State (2026)
Rates shown are average effective rates (annual tax ÷ home value). Your actual rate may differ based on your county and local levies.
| State | Avg Effective Rate | Avg Annual Tax* |
|---|---|---|
| New Jersey | 2.23% | $9,476 |
| Illinois | 2.08% | $5,765 |
| Connecticut | 1.79% | $6,153 |
| New Hampshire | 1.77% | $6,910 |
| Texas | 1.68% | $4,663 |
| Wisconsin | 1.61% | $3,954 |
| Nebraska | 1.54% | $3,239 |
| New York | 1.52% | $5,974 |
| National Average | 1.07% | $2,869 |
| California | 0.71% | $4,279 |
| Florida | 0.83% | $2,338 |
| Colorado | 0.48% | $2,017 |
| Hawaii | 0.27% | $1,971 |
| Alabama | 0.39% | $646 |
*Based on median home values by state. Source: Tax Foundation, 2025 data.
Frequently Asked Questions
The assessment ratio is the percentage of your home’s market value that the county uses to calculate your tax bill. If a home is worth $400,000 and the assessment ratio is 80%, the assessed value is $320,000 and tax is calculated on that. Most states use 100%, but always check your local assessor’s office.
A homestead exemption reduces the taxable value of your primary residence. For example, a $25,000 exemption on a $300,000 assessed home means you pay tax on only $275,000. Most states and many counties offer these automatically once you apply — check your county assessor to see if you qualify.
Your local property tax rate (also called a mill rate or millage) is set by your county or municipality. You can find it on your annual property tax bill, your county assessor’s website, or by searching “[your county] property tax rate 2026.” Rates are expressed in either percent or mills (1 mill = 0.1%).
Yes — if you believe your home has been over-assessed, you can file an appeal with your local assessor’s office. You’ll typically need comparable sales (“comps”) to support a lower valuation. Most jurisdictions have a 30–90 day window after your assessment notice arrives to file. Many homeowners successfully reduce bills by 10–20%.