Property Tax Calculator
Estimate your annual property tax from assessed value and tax rate. Compare effective rates across states.
Quick Answer
Property Tax = Assessed Value x Tax Rate. A $350,000 home at 1.2% costs $4,200/year ($350/month). Rates vary widely from 0.27% in Hawaii to 2.23% in New Jersey.
Annual Property Tax
$4,200
Monthly (Escrow)
$350
Effective Rate
1.20%
Tax by State on $350,000 Property
| State | Rate | Annual Tax | Monthly |
|---|---|---|---|
| New Jersey | 2.23% | $7,805 | $650 |
| Illinois | 2.08% | $7,280 | $607 |
| New Hampshire | 1.93% | $6,755 | $563 |
| Vermont | 1.83% | $6,405 | $534 |
| Connecticut | 1.79% | $6,265 | $522 |
| Texas | 1.68% | $5,880 | $490 |
| Wisconsin | 1.61% | $5,635 | $470 |
| Nebraska | 1.61% | $5,635 | $470 |
| Ohio | 1.56% | $5,460 | $455 |
| New York | 1.4% | $4,900 | $408 |
| Michigan | 1.38% | $4,830 | $402 |
| Pennsylvania | 1.36% | $4,760 | $397 |
| Florida | 0.86% | $3,010 | $251 |
| California | 0.71% | $2,485 | $207 |
| West Virginia | 0.57% | $1,995 | $166 |
| Wyoming | 0.56% | $1,960 | $163 |
| Louisiana | 0.55% | $1,925 | $160 |
| Colorado | 0.51% | $1,785 | $149 |
| Alabama | 0.39% | $1,365 | $114 |
| Hawaii | 0.27% | $945 | $79 |
About This Tool
The Property Tax Calculator estimates your annual property tax based on assessed value and tax rate. It also lets you compare effective tax rates across US states so you can factor property taxes into homebuying or relocation decisions.
Assessed Value vs. Market Value
In many states, the assessed value used for tax purposes is different from fair market value. Some states assess at 100% of market value, while others use a fraction (e.g., 10-50%). Check your county assessor's website to understand the ratio used in your area.
Why Property Tax Varies So Much
Property tax funds local services: schools, fire departments, roads, and infrastructure. Areas with higher service levels or lower alternative revenue sources tend to have higher rates. This is why New Jersey (2.23%) has a much higher rate than Hawaii (0.27%), which relies more heavily on excise and income taxes.