Property Tax Calculator
Property Tax Estimator
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Property Tax Estimate
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How Property Tax Is Calculated
Property tax is calculated by multiplying your home's assessed value by the local mill rate (tax rate). Some areas assess homes at less than full market value — the assessment ratio accounts for this. Any exemptions (e.g. homestead, senior, veteran) are subtracted from the taxable value.
Most lenders collect property tax monthly as part of your escrow payment and pay the bill on your behalf once or twice a year.
Average US Property Tax Rates
Property tax rates vary widely by state and county. The national average is roughly 1.1% of assessed home value per year. New Jersey and Illinois tend to have the highest rates (over 2%), while Hawaii and Alabama have some of the lowest (under 0.5%). Always check your local county assessor's website for the exact rate.