Calculate Property Taxes by State with Assessed Value & Mill Rates

Calculate property tax rates, assessments & annual obligations. Compare rates across locations for home buying decisions. Free tool for real estate planning & budgeting.

Calculate annual property taxes for residential and commercial real estate. Understand assessed values, mill rates, and exemptions to estimate your property tax liability.

Property Tax Overview

How Property Taxes Work

Property taxes are calculated using three main components:

Property Tax Rates by State (2024 Averages)

Tax Level Effective Rate Example States Annual Tax on $400K Home
Low Tax States 0.3% - 0.7% Hawaii, Alabama, Louisiana $1,200 - $2,800
Moderate Tax States 0.8% - 1.2% Florida, Nevada, Colorado $3,200 - $4,800
High Tax States 1.3% - 1.8% Texas, Pennsylvania, Ohio $5,200 - $7,200
Very High Tax States 1.9% - 2.5% New Jersey, Illinois, New Hampshire $7,600 - $10,000

Common Property Tax Exemptions

Property Tax Payment Options

Factors Affecting Property Values

Appealing Property Assessments

If you believe your property is over-assessed:

Note: Property tax rates and exemptions vary significantly by location. This calculator provides estimates for planning purposes. Contact your local tax assessor's office for exact rates, exemptions, and payment schedules in your area.

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Frequently Asked Questions

How are property taxes calculated and what factors affect them?

Property taxes are calculated by multiplying the assessed value by the mill rate (tax rate per $1,000). Assessed value is typically 80-100% of market value as determined by local assessors. Mill rates vary widely by location, typically ranging from 5-50 mills. Factors affecting your tax include property location, local government budgets, school district quality, property improvements, and available exemptions. Property taxes fund local services including schools, police, fire departments, and infrastructure.

What exemptions are available to reduce my property taxes?

Common exemptions include: homestead exemptions for primary residences (amounts vary by state), senior citizen exemptions for older homeowners, veteran exemptions for military service members, disability exemptions, and agricultural exemptions for working farms. Some areas offer exemptions for solar panels, historic properties, or energy-efficient improvements. Exemptions reduce your taxable assessed value, directly lowering your tax bill. You typically must apply annually and meet specific eligibility requirements. Contact your local tax assessor's office for available programs.

Can I appeal my property assessment if I think it's too high?

Yes, you can appeal if you believe your property is over-assessed. Start by reviewing your assessment notice for errors in property details (square footage, lot size, features). Research comparable sales in your area to support your case. File an appeal within the required timeframe (usually 30-60 days). Present evidence such as recent appraisals, photos of property condition, or comparable sales data. Consider hiring a professional appraiser for significant discrepancies. Even partial reductions can provide substantial annual savings.