Property Tax Calculator

Property tax is an annual tax levied by local governments — counties, cities, school districts, and special taxing districts — on real property: land and the permanent structures attached to it. It is the primary funding mechanism for local public services, with the majority of revenue in most jurisdictions going directly to K-12 public schools, followed by county services (courts, law enforcement, roads), and municipal services (fire, parks, libraries).

Unlike income tax, which is based on earnings, or sales tax, which is collected at the point of purchase, property tax is an ad valorem tax — meaning it is levied in proportion to the estimated value of the property. You pay it every year simply by owning the property, whether it generates income or not. For most American homeowners, property taxes represent the largest single recurring cost of homeownership after mortgage interest — often $3,000–$10,000 per year depending on location.

Property tax is administered entirely at the local level. There is no federal property tax. Each county or municipality sets its own assessment practices, exemption programs, appeal procedures, and mill rate — meaning two identical homes in neighboring counties can have dramatically different tax bills. This calculator uses 2024 statewide effective rates (the ratio of median tax paid to median home value) as a baseline; your actual rate depends on your specific county and city.

All figures are estimates. Actual tax bills depend on your county assessor's valuation, local levy rates, and applicable exemptions. Contact your county assessor's office for your precise assessed value and current mill rate.

Property tax calculation follows four sequential steps from market value to the final bill:

Determined by the county assessor through periodic mass appraisal
or individual review — typically every 1–4 years depending on state law.

Assessed Value = Market Value × Assessment Ratio

Taxable Value = Assessed Value − Exemptions

Property Tax = (Taxable Value × Mill Rate ÷ 1,000) + Special Assessments

or equivalently:

Property Tax = Taxable Value × (Effective Rate ÷ 100) + Special Assessments

The table below shows the 2024 effective property tax rate (median annual tax ÷ median home value) for all 50 states and D.C., sorted from lowest to highest. Effective rates are more meaningful than mill rates because they account for assessment ratios and reflect what homeowners actually pay relative to their home's market value.

A representative selection. Use the state selector in the calculator above for all 50 states. Effective rates are 2024 estimates based on Tax Foundation and Census Bureau data. County-level rates vary significantly within each state.

Property tax exemptions reduce the assessed value on which the mill rate is applied — directly lowering your tax bill. Exemptions are administered at the county or municipal level, and most require an annual or one-time application. Many homeowners miss significant savings simply because they do not apply. Here are the most common exemption programs:

Studies consistently find that 20–40% of properties are over-assessed relative to their actual market value. Because most homeowners do not appeal, this over-assessment persists — representing billions of dollars in unnecessary annual tax payments. Appealing is a straightforward administrative process available to every property owner, and it is free or very low cost in most jurisdictions.

Property taxes fund local government services that directly affect the quality of your neighborhood, schools, and public infrastructure. The allocation varies by state and county, but the typical breakdown across U.S. jurisdictions is:

Approximate national averages. Your county's allocation will differ. Your annual property tax bill or county budget documents show the exact breakdown for each taxing entity on your parcel.

Property taxes paid on a primary residence (and other real property) are deductible as part of the State and Local Tax (SALT) deduction on federal Schedule A — but only if you itemize deductions rather than taking the standard deduction. Since the Tax Cuts and Jobs Act (TCJA) of 2017, the SALT deduction has been capped at $10,000 per year ($5,000 if married filing separately). The cap is scheduled to expire after 2025 unless Congress acts to extend it.