Property Tax Calculator 2026
Estimate your annual property tax and monthly escrow payment. Select your state or enter a custom rate.
Quick Answer
Property taxes are calculated as assessed value × local mill rate. The US average is 1.07% of assessed value — on a $350,000 home, that's $3,745/year ($312/month). Rates range from 0.27% in Hawaii to 2.46% in New Jersey. Assessed value may differ from market value based on local assessment ratios.
Last updated: September 2026 · 2026 IRS & state tax rates
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%
Many counties assess at 80–100% of market value
$4,200
Annual Property Tax
1.2% effective rate
$350
Monthly Escrow
$350,000
Assessed Value
1.20%
Effective Rate
Market Value$350,000
Assessment Ratio100%
Assessed Value$350,000
Tax Rate1.20%
Annual Tax$4,200
Monthly Escrow Payment$350
Property Tax Rates by State (2026 Averages)
Effective property tax rates range from Hawaii's 0.32% to New Jersey's 2.23%. States with no income tax (Texas, Florida) often have higher property taxes to compensate. California's rates are low (0.80%) due to Proposition 13, which limits increases on existing homes.
How to Lower Your Property Tax Bill
- Homestead exemption: Most states offer a reduction for primary residences — can save $200–$1,500/year
- Senior exemption: Many counties freeze assessments or reduce taxes for seniors 65+
- Appeal your assessment: If your assessed value exceeds market value, file an appeal. About 30–50% of appeals succeed
- Veteran/disability exemptions: Often significant — check your county assessor's website
- Payroll Taxes Guide
- Overtime Rules
- Tax Withholding Guide