{"id":67353,"date":"2026-10-21T10:00:04","date_gmt":"2026-10-21T07:00:04","guid":{"rendered":"https:\/\/wpcalc.com\/en\/?p=67353"},"modified":"2026-10-21T10:00:04","modified_gmt":"2026-10-21T07:00:04","slug":"property-tax-calculator","status":"publish","type":"post","link":"https:\/\/wpcalc.com\/en\/finance\/property-tax-calculator\/","title":{"rendered":"Property Tax Calculator"},"content":{"rendered":"<section class=\"not-prose calculator-box\" aria-labelledby=\"calculator-title\"><div class=\"flex items-baseline sm:items-center justify-between gap-2 sm:gap-3\"><div class=\"flex flex-col sm:flex-row sm:items-center gap-2\"><span class=\"icon icon-calculator text-primary-700! text-base! dark:text-primary-300!\" aria-hidden=\"true\"><\/span><h2 id=\"calculator-title\" class=\"text-lg font-display font-bold\">Estimate Your Annual Property Tax<\/h2><\/div><div class=\"calcdash-favorite group\">\n  <button type=\"button\" class=\"favorite\" id=\"favorite\" data-favorite-id=\"67353\" data-favorite-title=\"Property Tax\" data-favorite-url=\"https:\/\/wpcalc.com\/en\/finance\/property-tax-calculator\/\" data-favorite-excerpt=\"Estimate your annual property tax from the market value of your home, assessment ratio, exemptions and local tax rate in percent or mills. You can also compare your bill with your state&#039;s average effective rate.\" aria-label=\"Add to Favorites\" data-favorite-icon=\"icon icon-finance\">\n    <span class=\"icon icon-shape-star-empty\" aria-hidden=\"true\"><\/span>\n  <\/button>\n  <div class=\"calcdash-favorite__tip\" aria-hidden=\"true\">\n   <span class=\"favorite-tooltip\" id=\"favorite-tooltip\"><\/span>\n  <\/div>\n  <span class=\"sr-only\" role=\"status\" id=\"favorite-status\"><\/span>\n<\/div><\/div><form action=\"https:\/\/wpcalc.com\/en\/finance\/property-tax-calculator\/\" method=\"POST\" class=\"calculator\" id=\"calculator-67353\" data-post=\"67353\"><fieldset class=\"fieldset-input is-2\"><legend class=\"sr-only\">Input Fields<\/legend><div class=\"field is-single\" id=\"input-1\"><label for=\"field-1\">Market value of the home<\/label><input type=\"text\" name=\"market_value_of_the_home\" id=\"field-1\" aria-describedby=\"calc-unit-1 calc-info-1\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" value=\"300000\"\/><div class=\"unit\" id=\"calc-unit-1\">$<\/div><small id=\"calc-info-1\">The current market (fair) value of the property.<\/small><\/div><div class=\"field\" id=\"input-2\"><label for=\"field-2\">Assessment ratio<\/label><input type=\"text\" name=\"assessment_ratio\" id=\"field-2\" aria-describedby=\"calc-unit-2 calc-info-2\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" max=\"100\" value=\"100\"\/><div class=\"unit\" id=\"calc-unit-2\">%<\/div><small id=\"calc-info-2\">Share of market value that is assessed. Most states use 100%, some tax only a fraction.<\/small><\/div><div class=\"field\" id=\"input-3\"><label for=\"field-3\">Exemptions<\/label><input type=\"text\" name=\"exemptions\" id=\"field-3\" aria-describedby=\"calc-unit-3 calc-info-3\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" value=\"5000\"\/><div class=\"unit\" id=\"calc-unit-3\">$<\/div><small id=\"calc-info-3\">Homestead, senior, veteran or other deductions subtracted from the assessed value.<\/small><\/div><div class=\"field is-single\" id=\"input-4\"><label for=\"field-4\">Enter the tax rate as<\/label><div class=\"grid grid-cols-1\"><select id=\"field-4\" name=\"enter_the_tax_rate_as\"><option value=\"percent\" selected>Percentage of taxable value<\/option><option value=\"mills\">Mills (per $1,000)<\/option><option value=\"state\">My state&#039;s average effective rate<\/option><\/select><svg class=\"pointer-events-none col-start-1 row-start-1 mr-2 size-5 self-center justify-self-end text-gray-500 sm:size-4\" viewBox=\"0 0 16 16\" fill=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\">\n              <path fill-rule=\"evenodd\" d=\"M4.22 6.22a.75.75 0 0 1 1.06 0L8 8.94l2.72-2.72a.75.75 0 1 1 1.06 1.06l-3.25 3.25a.75.75 0 0 1-1.06 0L4.22 7.28a.75.75 0 0 1 0-1.06Z\" clip-rule=\"evenodd\" \/>\n            <\/svg><\/div><\/div><div class=\"field\" id=\"input-5\"><label for=\"field-5\">Annual tax rate (%)<\/label><input type=\"text\" name=\"annual_tax_rate_\" id=\"field-5\" aria-describedby=\"calc-unit-5 calc-info-5\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" max=\"10\" value=\"1.1\"\/><div class=\"unit\" id=\"calc-unit-5\">%<\/div><small id=\"calc-info-5\">Combined county, city, school and special-district rate as a percentage of taxable value.<\/small><\/div><div class=\"field\" id=\"input-6\" hidden><label for=\"field-6\">Annual tax rate (mills)<\/label><input type=\"text\" name=\"annual_tax_rate_mills\" id=\"field-6\" aria-describedby=\"calc-unit-6 calc-info-6\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" value=\"11\"\/><div class=\"unit\" id=\"calc-unit-6\">mills<\/div><small id=\"calc-info-6\">1 mill = $1 of tax per $1,000 of taxable value (11 mills = 1.1%).<\/small><\/div><div class=\"field is-single\" id=\"input-7\" hidden><label for=\"field-7\">State (average effective rate)<\/label><div class=\"grid grid-cols-1\"><select id=\"field-7\" name=\"state_average_effective_rate\"><option value=\"AL\">Alabama \u2014 0.41% avg<\/option><option value=\"AK\">Alaska \u2014 1.03% avg<\/option><option value=\"AZ\">Arizona \u2014 0.63% avg<\/option><option value=\"AR\">Arkansas \u2014 0.62% avg<\/option><option value=\"CA\">California \u2014 0.75% avg<\/option><option value=\"CO\">Colorado \u2014 0.51% avg<\/option><option value=\"CT\">Connecticut \u2014 1.96% avg<\/option><option value=\"DE\">Delaware \u2014 0.57% avg<\/option><option value=\"DC\">District of Columbia \u2014 0.56% avg<\/option><option value=\"FL\">Florida \u2014 0.89% avg<\/option><option value=\"GA\">Georgia \u2014 0.92% avg<\/option><option value=\"HI\">Hawaii \u2014 0.28% avg<\/option><option value=\"ID\">Idaho \u2014 0.62% avg<\/option><option value=\"IL\">Illinois \u2014 2.13% avg<\/option><option value=\"IN\">Indiana \u2014 0.85% avg<\/option><option value=\"IA\">Iowa \u2014 1.53% avg<\/option><option value=\"KS\">Kansas \u2014 1.41% avg<\/option><option value=\"KY\">Kentucky \u2014 0.83% avg<\/option><option value=\"LA\">Louisiana \u2014 0.55% avg<\/option><option value=\"ME\">Maine \u2014 1.09% avg<\/option><option value=\"MD\">Maryland \u2014 1.09% avg<\/option><option value=\"MA\">Massachusetts \u2014 1.15% avg<\/option><option value=\"MI\">Michigan \u2014 1.44% avg<\/option><option value=\"MN\">Minnesota \u2014 1.08% avg<\/option><option value=\"MS\">Mississippi \u2014 0.75% avg<\/option><option value=\"MO\">Missouri \u2014 1.02% avg<\/option><option value=\"MT\">Montana \u2014 0.84% avg<\/option><option value=\"NE\">Nebraska \u2014 1.63% avg<\/option><option value=\"NV\">Nevada \u2014 0.60% avg<\/option><option value=\"NH\">New Hampshire \u2014 1.89% avg<\/option><option value=\"NJ\">New Jersey \u2014 2.47% avg<\/option><option value=\"NM\">New Mexico \u2014 0.83% avg<\/option><option value=\"NY\">New York \u2014 1.72% avg<\/option><option value=\"NC\">North Carolina \u2014 0.82% avg<\/option><option value=\"ND\">North Dakota \u2014 1.05% avg<\/option><option value=\"OH\">Ohio \u2014 1.53% avg<\/option><option value=\"OK\">Oklahoma \u2014 0.89% avg<\/option><option value=\"OR\">Oregon \u2014 0.97% avg<\/option><option value=\"PA\">Pennsylvania \u2014 1.45% avg<\/option><option value=\"RI\">Rhode Island \u2014 1.53% avg<\/option><option value=\"SC\">South Carolina \u2014 0.64% avg<\/option><option value=\"SD\">South Dakota \u2014 1.22% avg<\/option><option value=\"TN\">Tennessee \u2014 0.64% avg<\/option><option value=\"TX\" selected>Texas \u2014 1.69% avg<\/option><option value=\"UT\">Utah \u2014 0.66% avg<\/option><option value=\"VT\">Vermont \u2014 1.90% avg<\/option><option value=\"VA\">Virginia \u2014 0.80% avg<\/option><option value=\"WA\">Washington \u2014 1.06% avg<\/option><option value=\"WV\">West Virginia \u2014 0.58% avg<\/option><option value=\"WI\">Wisconsin \u2014 1.76% avg<\/option><option value=\"WY\">Wyoming \u2014 0.65% avg<\/option><\/select><svg class=\"pointer-events-none col-start-1 row-start-1 mr-2 size-5 self-center justify-self-end text-gray-500 sm:size-4\" viewBox=\"0 0 16 16\" fill=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\">\n              <path fill-rule=\"evenodd\" d=\"M4.22 6.22a.75.75 0 0 1 1.06 0L8 8.94l2.72-2.72a.75.75 0 1 1 1.06 1.06l-3.25 3.25a.75.75 0 0 1-1.06 0L4.22 7.28a.75.75 0 0 1 0-1.06Z\" clip-rule=\"evenodd\" \/>\n            <\/svg><\/div><\/div><\/fieldset><div class=\"buttons\"><button type=\"submit\" data-text=\"Re-Calculate\" id=\"calculate-button\" data-post=\"67353\">Calculate<\/button><button type=\"reset\">Reset<\/button><\/div><div class=\"field is-checkbox hidden!\" id=\"field-auto-calc\"><input type=\"checkbox\" id=\"auto-calc\"><label for=\"auto-calc\">Calculate automatically<\/label><small>If enabled, the result will update automatically when you change any value.<\/small><\/div><div class=\"fieldset-result is-hidden\" aria-labelledby=\"result-title\" aria-live=\"polite\" role=\"region\"> <h3 class=\"result-title bg-gradient-to-r from-primary-50 to-gray-50 dark:from-primary-900 dark:to-gray-800\" id=\"result-title\"><span class=\"icon icon-s-pulse\" aria-hidden=\"true\"><\/span> Estimated Property Tax<\/h3><div class=\"result-box\"><div class=\"field-result\" id=\"output-1\"><span class=\"field-title\"><span>Annual property tax<\/span><\/span><span class=\"field-value\" id=\"result-1\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-2\"><span class=\"field-title\"><span>Monthly escrow amount<\/span><\/span><span class=\"field-value\" id=\"result-2\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-3\"><span class=\"field-title\"><span>Effective tax rate on market value<\/span><\/span><span class=\"field-value\" id=\"result-3\" data-unit=\"%\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-4\"><span class=\"field-title\"><span>Taxable value<\/span><\/span><span class=\"field-value\" id=\"result-4\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result is-column\" id=\"output-5\"><span class=\"field-title\"><span>Comparison with your state&#039;s average<\/span><\/span><span class=\"field-value\" id=\"result-5\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><\/div><div class=\"result-actions\"><button type=\"button\" class=\"copy-link\"><svg viewBox=\"0 0 20 20\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M12.232 4.232a2.5 2.5 0 0 1 3.536 3.536l-1.225 1.224a.75.75 0 0 0 1.061 1.06l1.224-1.224a4 4 0 0 0-5.656-5.656l-3 3a4 4 0 0 0 .225 5.865.75.75 0 0 0 .977-1.138 2.5 2.5 0 0 1-.142-3.667l3-3Z\"\/><path d=\"M11.603 7.963a.75.75 0 0 0-.977 1.138 2.5 2.5 0 0 1 .142 3.667l-3 3a2.5 2.5 0 0 1-3.536-3.536l1.225-1.224a.75.75 0 0 0-1.061-1.06l-1.224 1.224a4 4 0 1 0 5.656 5.656l3-3a4 4 0 0 0-.225-5.865Z\"\/><\/svg><span class=\"copy-link__text\">Copy link to this calculation<\/span><\/button><span class=\"sr-only\" role=\"status\" id=\"copy-link-status\"><\/span><\/div><\/div><a href=\"#respond\" class=\"hidden transition-opacity duration-300 opacity-0 w-50 text-sm justify-center items-center gap-2 px-4 py-2 rounded bg-gray-200 text-gray-700 hover:bg-gray-300\" id=\"leave-comment\"><span class=\"icon icon-comments\" aria-hidden=\"true\"><\/span>Leave a Comment<\/a><\/form><\/section><section id=\"calc-reactions\" class=\"not-prose hidden my-12 bg-gradient-to-r from-primary-50 to-gray-50 border border-indigo-100 rounded-xl px-6 py-4 shadow-sm\" data-post=\"67353\" aria-live=\"polite\" aria-labelledby=\"calc-reactions-title\"><p id=\"calc-reactions-title\" class=\"text-sm text-gray-500 text-center mb-2\">How did this result make you feel?<\/p><div role=\"group\" aria-labelledby=\"calc-reactions-title\" class=\"grid grid-cols-3 sm:flex sm:flex-row sm:justify-around gap-4 sm:items-center sm:flex-wrap\"><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"like\"><span class=\"reaction-count\" data-reaction-count=\"like\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude00 <\/span><span class=\"reaction-description font-medium\">Like <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"helpful\"><span class=\"reaction-count\" data-reaction-count=\"helpful\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\udca1 <\/span><span class=\"reaction-description font-medium\">Helpful <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"confused\"><span class=\"reaction-count\" data-reaction-count=\"confused\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude15 <\/span><span class=\"reaction-description font-medium\">Confused <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"disappointed\"><span class=\"reaction-count\" data-reaction-count=\"disappointed\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude1e <\/span><span class=\"reaction-description font-medium\">Disappointed <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"inaccurate\"><span class=\"reaction-count\" data-reaction-count=\"inaccurate\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\u274c <\/span><span class=\"reaction-description font-medium\">Inaccurate <\/span><\/button><\/div><div id=\"reaction-message\" class=\"hidden mt-8 rounded-md border border-primary-100 bg-white\/50 backdrop-blur-sm px-4 py-2 text-sm text-center shadow-sm\"><\/div><\/section><div class=\"calcdash-ad not-prose calcdash-ad--calc_result calcdash-ad--in-article\"><ins class=\"adsbygoogle\" style=\"display:block\" data-ad-client=\"ca-pub-1721569815777345\" data-ad-slot=\"6317458308\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\"><\/ins><script>(adsbygoogle = window.adsbygoogle || []).push({});<\/script><\/div>\n<style id=\"wpcoderpro-inline-1\">.formula-box {\r\n\tborder-bottom: none !important;\r\n}<\/style><section class=\"formula-box\" aria-labelledby=\"formula-title\">\r\n\t<div id=\"formula-title\" class=\"not-prose font-display mb-4\"><span class=\"icon icon-formula\" aria-hidden=\"true\"><\/span><h2>Property Tax Formula<\/h2><\/div>\r\n\t<figure class=\"not-prose formula\">\r\n\t\t<figcaption class=\"formula-title\">Formula<\/figcaption>\r\n\t\t<div class=\"text-base text-gray-800\" id=\"formula\">\n\\[ \\text{Taxable value} = \\max\\!\\big(0,\\; \\\\\text{Market value} \\times \\tfrac{\\text{Assessment ratio}}{100} - \\text{Exemptions}\\big) \\\\\\n\\text{Property tax} = \\text{Taxable value} \\times \\tfrac{\\text{Tax rate (\\%)}}{100} \\]\n<\/div>\r\n\t<\/figure>\r\n\t<\/p>\n<p><strong>Where:<\/strong><\/p>\n<ul>\n<li>\\(\\text{Market value}\\) \u2014 the current fair market value of the property ($)<\/li>\n<li>\\(\\text{Assessment ratio}\\) \u2014 the share of market value subject to assessment (%); most jurisdictions use 100%, some assess only a fraction<\/li>\n<li>\\(\\text{Exemptions}\\) \u2014 homestead, senior, veteran or other deductions subtracted from the assessed value ($)<\/li>\n<li>\\(\\text{Tax rate}\\) \u2014 the combined annual rate as a percentage of taxable value; if quoted in mills, 1 mill = 0.1% (that is, $1 of tax per $1,000 of taxable value)<\/li>\n<\/ul>\n<p>The taxable value is floored at zero, so exemptions larger than the assessed value simply produce no tax. The <em>effective rate<\/em> \u2014 tax divided by market value \u2014 is the number that lets you compare bills across states and neighborhoods.<\/p>\n<p>\r\n<\/section>\n<style id=\"wpcoderpro-inline-459\">.calculation-box {\r\n\tborder-bottom: none !important;\r\n}<\/style><section id=\"calculation\" class=\"calculation-box\" aria-labelledby=\"calculation-title\">\r\n\t<div id=\"calculation-title\" class=\"not-prose font-display\"><span class=\"icon icon-unordered-list\" aria-hidden=\"true\"><\/span><h2>Property Tax \u2013 Calculation Example<\/h2><\/div>\r\n\r\n<\/p>\n<p><strong>Example:<\/strong> a home with a market value of $300,000 is assessed at 100% with a $5,000 homestead exemption, and the combined local rate is 1.1% of taxable value.<\/p>\n<p>\\[ \\text{Taxable value} = 300{,}000 \\times \\tfrac{100}{100} - 5{,}000 = 295{,}000 \\]<\/p>\n<p>\\[ \\text{Property tax} = 295{,}000 \\times \\tfrac{1.1}{100} = 3{,}245 \\]<\/p>\n<p><strong>Result:<\/strong> the annual property tax is $3,245.00, the monthly escrow amount is $270.42, and the effective rate on market value is 3,245 \u00f7 300,000 \u2248 1.082%. You can reproduce all of these figures with the calculator's default values.<\/p>\n<p>\n\r\n<\/section>\n<h2>How to use the calculator<\/h2>\n<ol>\n<li>Enter the <strong>Market value of the home<\/strong> \u2014 the current fair market value, not your mortgage balance.<\/li>\n<li>Enter the <strong>Assessment ratio<\/strong> in percent. Use 100% if your jurisdiction taxes full market value; some states assess only a fraction (for example, 10%).<\/li>\n<li>Enter <strong>Exemptions<\/strong> \u2014 any homestead, senior, veteran or disability deductions that reduce your assessed value. Enter 0 if none apply.<\/li>\n<li>Choose how to enter the rate with <strong>Enter the tax rate as<\/strong>: a percentage of taxable value, mills, or your state's average effective rate.<\/li>\n<li>If you picked <em>percentage<\/em>, fill in <strong>Annual tax rate (%)<\/strong>; if you picked <em>mills<\/em>, fill in <strong>Annual tax rate (mills)<\/strong>. For the state-average mode, select your <strong>State<\/strong> \u2014 the rate is applied directly to market value, so the ratio and exemption fields are skipped.<\/li>\n<li>Read the results: <strong>Annual property tax<\/strong>, <strong>Monthly escrow amount<\/strong>, <strong>Effective tax rate on market value<\/strong> and <strong>Taxable value<\/strong>, plus a comparison with your state's average.<\/li>\n<\/ol>\n<h2>What property tax is and how it works<\/h2>\n<p>Property tax is a recurring levy on real estate, imposed by local governments \u2014 counties, cities, school districts and special districts \u2014 to fund schools, emergency services, roads and other local spending. It is usually the largest local tax homeowners face, and unlike a mortgage payment it never goes away: it continues for as long as you own the property.<\/p>\n<p>The bill starts with your assessed value. An assessor estimates what your property is worth, then applies an <em>assessment ratio<\/em> that converts market value into the taxable base. Many jurisdictions assess at 100% of market value, while others deliberately use a lower ratio. From that assessed value, <em>exemptions<\/em> are subtracted \u2014 most commonly a homestead exemption for a primary residence, plus senior, veteran or disability reductions in many states. What remains is the taxable value.<\/p>\n<p>The tax rate is then applied to the taxable value. Rates are quoted either as a percentage or in <em>mills<\/em>: one mill is $1 of tax per $1,000 of taxable value, so a rate of 25 mills equals 2.5%. Your total rate is the sum of all overlapping jurisdictions' rates. The calculator converts everything into one useful summary number: the <strong>effective tax rate<\/strong> \u2014 annual tax as a percentage of market value. This lets you fairly compare a high-rate town with low values against a low-rate town with full assessment, and it is the figure used for state-to-state comparisons.<\/p>\n<p>The <strong>monthly escrow amount<\/strong> is simply the annual tax divided by 12. Most mortgage servicers collect this figure each month as part of your payment and pay the tax bill for you, so knowing it early helps you anticipate your true monthly housing cost. When budgeting for a home purchase, property tax belongs next to insurance in your calculations \u2014 our <a href=\"https:\/\/wpcalc.com\/en\/finance\/rent-vs-buy-calculator\/\">rent vs buy calculator<\/a> includes it in the buy-side costs, and our <a href=\"https:\/\/wpcalc.com\/en\/finance\/closing-cost-calculator\/\">closing costs calculator<\/a> helps you plan the one-time expenses at settlement.<\/p>\n<h2>Limits of this estimate \u2014 read before relying on it<\/h2>\n<ul>\n<li><strong>Rates are set locally and change yearly.<\/strong> The state averages used for comparison are rough, orientation-only figures; actual county, city and school rates vary several-fold within a single state.<\/li>\n<li><strong>Assessed value \u2260 market value.<\/strong> Many jurisdictions reappraise only every few years, cap annual increases, or use a fraction of market value. Your actual taxable value may differ from what a full-market-value calculation suggests.<\/li>\n<li><strong>Exemptions vary by state and status.<\/strong> Amounts, eligibility rules and stacking of homestead\/senior\/veteran exemptions differ widely; check your local assessor's site for what applies to you.<\/li>\n<li><strong>Special assessments are excluded.<\/strong> Bond issues, drainage, trash and other flat-fee special assessments can add noticeably to the real bill.<\/li>\n<li><strong>The state-average mode ignores exemptions and ratios by design<\/strong> \u2014 effective rates already fold them in, so the result is only a ballpark figure for the whole state.<\/li>\n<\/ul>\n<p>For an exact number, look up your property on your county tax assessor's website, which shows your assessed value, exemptions and current millage breakdown. If you are evaluating property as an investment, the <a href=\"https:\/\/wpcalc.com\/en\/finance\/cap-rate-calculator-capitalization-rate\/\">cap rate calculator<\/a> can show how property tax affects returns, and the <a href=\"https:\/\/wpcalc.com\/en\/finance\/real-estate-commission-calculator\/\">real estate commission calculator<\/a> helps with the other big cost of a sale.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Estimate your annual property tax from the market value of your home, assessment ratio, exemptions and local tax rate in percent or mills. You can also compare your bill with your state's average effective rate.<\/p>\n","protected":false},"author":3168,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[100],"class_list":["post-67353","post","type-post","status-publish","format-standard","hentry","category-finance","tag-taxes-pay"],"acf":[],"_links":{"self":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/67353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/users\/3168"}],"replies":[{"embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/comments?post=67353"}],"version-history":[{"count":1,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/67353\/revisions"}],"predecessor-version":[{"id":67354,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/67353\/revisions\/67354"}],"wp:attachment":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/media?parent=67353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/categories?post=67353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/tags?post=67353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}