US Property Tax Calculator

How property tax works in the US

Property tax is the largest source of revenue for local government in the United States — funding schools, police, fire, roads, and parks. Each state delegates taxing authority to counties, cities, school districts, and special districts that apply their own rate (“mill levy”) to your home's assessed value.

The calculation is:

Annual Tax = (Assessed Value − Exemptions) × Combined Tax Rate

Five lowest-tax states

1. Hawaii — 0.27% effective
2. Alabama — 0.41% effective
3. Colorado — 0.51% effective
4. Louisiana — 0.55% effective
5. District of Columbia — 0.57% effective

Five highest-tax states

1. New Jersey — 2.49% effective
2. Illinois — 2.27% effective
3. New Hampshire — 2.18% effective
4. Vermont — 1.89% effective
5. Wisconsin — 1.85% effective

Common exemptions

• Homestead — for primary residences. Florida and Texas have particularly generous exemptions; many other states offer modest reductions.
• Senior (65+) — additional exemption or assessed-value freeze for older homeowners.
• Veteran / disability — partial or full exemption for qualifying veterans and people with disabilities.
• Conservation / agricultural — for qualifying land uses.

Eligibility and dollar amounts vary by state and even by county. Use the exemption fields in the calculator to model your situation, then confirm with your county assessor.