What will you actually owe in property tax? This free property tax calculator estimates your annual, monthly and daily property tax bill from your home’s value and your local effective tax rate.
1.02% is roughly the US average effective property tax rate. Check your county assessor’s site for your actual local rate.
Property tax rates vary widely by state, county and city. This is a general estimate – confirm your exact rate and any exemptions with your local tax assessor.
How Property Tax Calculator Works
A property tax calculator turns your home’s value and your local effective tax rate into an annual, monthly, and daily property tax estimate. Because rates and assessment rules vary so much by state, county, and city, the calculator applies whatever rate you enter directly to your home value rather than assuming a fixed national figure.
Formula: Annual Property Tax = Home Value × (Effective Tax Rate ÷ 100). Monthly Property Tax = Annual Property Tax ÷ 12. Daily Property Tax = Annual Property Tax ÷ 365. The calculator’s placeholder rate of roughly 1.02% is offered only as a rough US-wide reference point in the input hint — your actual local effective rate can be meaningfully higher or lower, so check your county assessor’s site for the figure that applies to you.
- Home value (assessed or market) — your property’s assessed value for tax purposes, or its market value if assessed value isn’t known
- Effective tax rate (%) — the percentage of home value charged as property tax in your specific location
- Annual property tax — the yearly total, calculated as Home Value × Effective Tax Rate
- Monthly — the annual amount divided by 12, useful for budgeting alongside a mortgage escrow
- Daily — the annual amount divided by 365, useful for a per-day cost comparison
Example Scenarios
| Home Value | Effective Tax Rate | Annual Property Tax |
|---|---|---|
| $200,000 | 1.02% | $2,040 |
| $350,000 | 1.02% | $3,570 |
| $500,000 | 1.5% | $7,500 |
| $150,000 | 0.75% | $1,125 |
| $750,000 | 2.0% | $15,000 |
Property Tax Calculator FAQ
What’s the difference between assessed value and market value?
Market value is roughly what your home would sell for today, while assessed value is the figure your local tax assessor assigns for tax purposes and is often a percentage of market value rather than equal to it. Check your assessment notice to see which figure your county uses.Why do property tax rates vary so much by location?
Property tax rates are set locally to fund schools, emergency services, and other municipal budgets, so rates differ by state, county, and even by city or school district within the same county. There’s no single national rate that applies everywhere.Is my effective tax rate the same as the mill rate my assessor lists?
Not necessarily. A mill rate is often expressed as dollars per $1,000 of assessed value, while an effective rate expresses tax as a percentage of value. You may need to convert a mill rate to a percentage before entering it here.Do exemptions change what I actually owe?
Yes. Homestead exemptions, senior exemptions, and other local programs can reduce your taxable value or your bill directly, which this calculator does not account for. Apply any exemptions you qualify for before comparing this estimate to your actual bill.How often is my home’s assessed value updated?
Reassessment schedules vary by jurisdiction — some counties reassess annually, others every few years, and some only when a property sells or is significantly improved. Check your local assessor’s office for the schedule that applies to your property.Does this calculator include HOA fees or special assessments?
No, it only estimates the standard property tax based on home value and effective rate. HOA dues, special district assessments, and one-time local levies are billed separately and are not included in this estimate.Related Calculators
Property tax is just one piece of homeownership costs — pair this estimate with the mortgage calculator to see your full monthly payment including escrow, the closing cost calculator to budget for one-time purchase expenses, or the home insurance coverage estimator to round out your annual ownership costs.