Property tax calculator

Frequently asked questions

How is property tax calculated?

The annual bill is typically the home's assessed value multiplied by the local tax rate. Assessed value is set by your county or municipality and often differs from the market value or purchase price, so check your assessment notice for the official figure used in your jurisdiction.

What property tax rate should I use?

Effective property tax rates vary widely by location — anywhere from under 0.5% to over 2% depending on the state and county. Your current tax bill divided by the home's assessed value gives the effective rate for your area, or you can find average rates through your local assessor's website.

Why does this show a monthly figure?

Many mortgage servicers collect property tax as part of a monthly escrow payment rather than as a single annual lump sum. Seeing the monthly equivalent alongside the annual total makes it easier to factor taxes into a full monthly housing-cost comparison.

Does this account for homestead exemptions or tax caps?

No. The estimate applies a single flat rate to the full entered home value without modeling exemptions, assessment caps, or special district levies. If your jurisdiction offers a homestead exemption or caps annual increases, your actual bill may be lower than this estimate.