Property Tax Calculator — Annual & Monthly Estimate
Property tax is often the biggest hidden cost of homeownership — from about 0.3% of home value per year in Hawaii to over 2% in New Jersey and Illinois. Estimate your annual bill and what it adds to your monthly payment.
US average is ~1.1%. Check your county assessor for the local rate.
- Monthly (escrowed)
- $366.67
How this calculator works
- Annual tax = assessed value × effective rate. Assessed value may differ from market value depending on your county's assessment ratio and exemptions (homestead, senior, veteran).
- Most lenders collect 1/12 of the annual tax in each mortgage payment and pay the county from escrow.
Frequently asked questions
Which states have the highest property taxes?
New Jersey (~2.2% effective), Illinois (~2.1%), and Connecticut/New Hampshire (~1.8–1.9%) lead; Hawaii (~0.3%) and Alabama (~0.4%) are lowest.
Can I lower my property tax?
Yes — file for a homestead exemption if eligible, and appeal your assessment with comparable sales if it looks high. Many appeals succeed at reducing assessed value.
Is property tax deductible?
State and local taxes (income + property combined) are deductible up to $40,000 in 2026 if you itemize.
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Disclaimer: Results are estimates for educational purposes only and are not tax, legal, or financial advice. Tax rules are simplified (credits, phase-outs, and local taxes may not be modeled). Verify important decisions with the IRS, your state tax authority, or a licensed professional.