How are property taxes calculated?

Property tax = Assessed value × Tax rate (mill rate). Assessed value may differ from market value (often 80–100% depending on jurisdiction). Property taxes are typically paid via monthly mortgage escrow.

Property Tax Calculator

Estimate annual property taxes from home value and tax rate.

This tool runs in your browser. None of your data is saved or sold.

Assessed home value ($)

Property tax rate (%)

About This Calculator

Property taxes are levied annually by local governments as a percentage of assessed home value. This calculator converts your tax rate into annual and monthly costs — the monthly figure is what most mortgage lenders collect in escrow. Tax rates vary enormously: from under 0.3% in Hawaii and Alabama to over 2% in Illinois and New Jersey.

Estimates only — not financial, tax, legal, or investment advice. Verify important results with a qualified professional before making decisions.

annual tax = assessed value × tax rate; monthly escrow = annual ÷ 12