Property Tax Calculator
Estimate your property tax by state, compare rates across all 50 states, and see how homestead and senior exemptions reduce your bill. Includes 2026 SALT deduction context.
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How to Use This Calculator
My Property Tax tab
The default tab. Enter your home market value, select your state, and see your estimated annual property tax with monthly equivalent. The result includes SALT deduction context — how much of the $40,400 cap (2026) your property tax uses. Expand "More options" to override the effective rate with your actual rate.
Compare States tab
Compare property tax on the same home value across 4 states side by side. See which state charges the most and least, with dollar difference and monthly savings. Expand the full table to view all 50 states + DC ranked by effective rate.
Tax After Exemptions tab
See how homestead, senior, and other exemptions reduce your property tax. Select your state — available exemptions auto-fill with the correct amounts. Check the boxes for exemptions you qualify for, and add any additional local exemptions.
Share your result
Every input is encoded in the URL. Click Share to send your exact scenario to a spouse, realtor, or financial advisor.
The Formula
Property tax is calculated from your home’s assessed value and the local tax rate:
Assessed Value = Market Value × Assessment Ratio
Effective rate (what this calculator uses):
Effective Rate = Annual Tax Paid ÷ Market Value
Annual Tax = Market Value × Effective Rate
With exemptions:
Tax = (Market Value − Exemptions) × Effective Rate
Mill rate conversion:
1 mill = $1 per $1,000 = 0.1%
10 mills = 1%
The effective rate is the simplest way to compare states. It already accounts for assessment ratios, which vary wildly: South Carolina assesses primary residences at just 4% of market value, while Texas assesses at 100%. The effective rate normalizes this to: what percentage of your home’s market value do you actually pay in property tax?
Property tax is a local tax. There is no federal property tax. Rates are set by counties, cities, school districts, and special districts — so your actual rate depends on where exactly you live within a state.
Example
Jennifer & Tom — homeowners in Austin, TX
Jennifer and Tom, both 42, bought a home in Austin, Texas. Market value: $520,000. Texas has no state income tax but one of the highest property tax rates (1.63% effective).
My Property Tax tab
SALT context: Their $8,476 property tax is well under the $40,400 cap. With no state income tax in Texas, property tax is their entire SALT deduction — and it’s fully deductible.
Tax After Exemptions tab
The Texas homestead exemption ($140,000, effective 2025 via Prop 13) saves Jennifer and Tom $2,282/year. If they were 65+, the additional $60,000 senior exemption would save another $978/year — plus a permanent tax ceiling freeze.
Compare States tab
The same $520,000 home costs $10,712 more per year in property tax in New Jersey vs Hawaii. But NJ has state income tax on top — while Texas and Florida have none.