Property Tax Calculator — All 50 States
Enter your home value to see estimated annual property tax in every state.
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Understanding Property Tax in the United States
Property tax is a tax on real estate levied primarily by local governments (counties, cities, school districts, and special districts). It is the primary funding source for local public schools, fire and police protection, road maintenance, parks, and other local services. For homeowners, property tax is often the single largest local tax obligation, frequently exceeding $5,000 to $10,000 per year in high-tax states.
Unlike income tax, which varies with earnings, and sales tax, which varies with spending, property tax is a fixed annual cost based on the value of your home. This makes it a critical factor in housing affordability and an important consideration when choosing where to buy a home.
How Property Tax Is Calculated
Property tax is calculated using this formula:
The assessed value may differ from market value depending on the state's assessment ratio. The tax rate is typically expressed in mills (1 mill = $1 per $1,000 of assessed value) or as a percentage.
Assessment Ratios
Not all states assess property at 100% of market value. Some states use a fraction (assessment ratio) of market value. For example:
- South Carolina assesses owner-occupied homes at only 4% of market value
- Ohio uses a 35% assessment ratio
- California assesses based on purchase price (Proposition 13), not current market value
- Most states assess at or near 100% of fair market value
Highest and Lowest Property Tax States
Top 5 Highest Property Tax States
- New Jersey — 2.23% effective rate ($8,920 on a $400K home)
- Connecticut — 2.15% ($8,600 on a $400K home)
- Illinois — 2.07% ($8,280 on a $400K home)
- New Hampshire — 1.93% ($7,720 on a $400K home)
- Vermont — 1.83% ($7,320 on a $400K home)
Top 5 Lowest Property Tax States
- Hawaii — 0.27% effective rate ($1,080 on a $400K home)
- Alabama — 0.39% ($1,560 on a $400K home)
- Colorado — 0.49% ($1,960 on a $400K home)
- Nevada — 0.53% ($2,120 on a $400K home)
- Delaware — 0.53% ($2,120 on a $400K home)
Property Tax Exemptions and Relief Programs
Homestead Exemptions
Most states offer a homestead exemption that reduces the taxable value of your primary residence. Notable examples include:
- Florida — Up to $50,000 homestead exemption, plus assessment increase limited to 3% per year (Save Our Homes Act)
- Texas — $100,000 homestead exemption for school district taxes
- Georgia — Varies by county, typically $2,000 to $10,000 off assessed value
- California — $7,000 reduction in assessed value (modest), but Proposition 13 limits annual assessment increases to 2%
Senior Citizen Exemptions
Many states offer additional property tax relief for seniors, typically those aged 65 and older. These can include additional exemptions, assessment freezes, tax deferral programs, and circuit breaker credits that refund property tax exceeding a percentage of income.
Veteran and Disability Exemptions
All states offer some form of property tax exemption for disabled veterans, and many extend partial exemptions to all veterans. The most generous states (like Texas and Florida) offer 100% exemptions for veterans with total disability ratings.
Property Tax and No-Income-Tax States
States without income tax often rely more heavily on property taxes to fund government services. This is especially evident in Texas, which has no income tax but one of the nation's highest effective property tax rates at approximately 1.60%. On a $400,000 home, that equals $6,400 per year in property tax alone.
However, this is not always the case. Washington has no income tax and a relatively moderate property tax rate of 0.92%, relying instead on sales tax revenue. Florida also has no income tax with a moderate 0.86% property tax rate.
Use our full comparison calculator to see how property tax fits into the overall tax burden in any two states.
Frequently Asked Questions
New Jersey has the highest effective property tax rate at approximately 2.23%. On a $400,000 home, that equals about $8,920 per year. Illinois (2.07%) and Connecticut (2.15%) also have very high rates.
Hawaii has the lowest effective property tax rate at approximately 0.27%. On a $400,000 home, that equals only about $1,080 per year. Alabama (0.39%) and Colorado (0.49%) also have very low rates.
Property tax is calculated by multiplying the assessed value of your property by the local tax rate (mill rate). The assessed value may be different from market value depending on the state's assessment ratio. Some states assess at 100% of market value, while others use a fraction.
A homestead exemption reduces the taxable value of your primary residence. For example, Florida offers a $50,000 homestead exemption, meaning a home assessed at $300,000 would only be taxed on $250,000. Many states offer homestead exemptions to reduce property tax for owner-occupied homes.