Property Tax Calculator
Calculate annual and monthly property tax payments
$
Assessed value
%
Annual rate
$
Homestead, senior, etc.
Annual Property Tax
$5,000.00
Monthly Property Tax
$416.67
Often included in mortgage escrow
Assessed Value
$400,000.00
No exemptions applied
Effective Tax Rate
1.250%
Actual rate on home value
Tax Calculation
Home Value$400,000.00
Assessed Value$400,000.00
Tax Rate1.25%
Annual Tax$400,000.00 × 1.25% = $5,000.00
Property Tax by Home Value
| Home Value | Annual Tax | Monthly |
|---|---|---|
| $200,000.00 | $2,500.00 | $208.33 |
| $300,000.00 | $3,750.00 | $312.50 |
| $400,000.00 | $5,000.00 | $416.67 |
| $500,000.00 | $6,250.00 | $520.83 |
| $600,000.00 | $7,500.00 | $625.00 |
| $750,000.00 | $9,375.00 | $781.25 |
| $1,000,000.00 | $12,500.00 | $1,041.67 |
Average Property Tax Rates by State
| State | Avg Rate | Tax on $400,000.00 |
|---|---|---|
| New Jersey | 2.23% | $8,920.00 |
| Illinois | 2.08% | $8,320.00 |
| New Hampshire | 1.93% | $7,720.00 |
| Connecticut | 1.79% | $7,160.00 |
| Vermont | 1.76% | $7,040.00 |
| Texas | 1.69% | $6,760.00 |
| Wisconsin | 1.68% | $6,720.00 |
| Nebraska | 1.65% | $6,600.00 |
| New York | 1.62% | $6,480.00 |
| Ohio | 1.56% | $6,240.00 |
| Pennsylvania | 1.53% | $6,120.00 |
| Iowa | 1.52% | $6,080.00 |
| Rhode Island | 1.46% | $5,840.00 |
| Michigan | 1.44% | $5,760.00 |
| Kansas | 1.41% | $5,640.00 |
| California | 0.76% | $3,040.00 |
| Colorado | 0.55% | $2,200.00 |
| Hawaii | 0.28% | $1,120.00 |
Common Property Tax Exemptions
- Homestead Exemption: Reduces taxable value for primary residence (varies by state)
- Senior Exemption: Additional reduction for homeowners 65+ (income limits may apply)
- Veteran Exemption: For qualifying veterans or surviving spouses
- Disability Exemption: For homeowners with qualifying disabilities
- Property tax rates and exemptions vary significantly by state and county - check your local tax assessor
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