Property Tax Calculator
Estimate annual and monthly property taxes using your home value and the average effective rate of your state.
A $350,000.00 home in Texas (1.40% effective rate) pays about $4,900.00 per year in property tax.
How to Use This Calculator
- Enter your home value (purchase price or assessed value).
- Select your state — the average effective rate is preloaded.
- See your annual tax and what to set aside monthly.
The Formula
Annual property tax = home value × effective rate. Rates are the average effective rates per state (Tax Foundation 2026) — your county's rate may differ.
AnnualValue × effective rateMonthlyAnnual ÷ 12SourceTax Foundation 2026Worked Example
A $350,000.00 home in Texas at the 1.40% average effective rate pays about $4,900.00 a year — roughly $408.33 per month.
Reference Table
| State | Effective rate |
|---|---|
| New Jersey | 1.88% |
| Illinois | 1.88% |
| Texas | 1.40% |
| New York | 1.30% |
| Florida | 0.78% |
| California | 0.70% |
Source: Tax Foundation, Property Taxes by State and County (2026).
Quick Tips
- Your actual rate depends on the county and any exemptions (homestead, senior).
- Escrow payments usually include property tax + insurance.
- California's Prop 13 keeps effective rates low for long-time owners.
Frequently Asked Questions
What is an effective property tax rate?
Annual property tax paid divided by home value — it combines the mill rate with assessment ratios, giving an apples-to-apples comparison.
Which states have the highest property taxes?
New Jersey and Illinois lead at about 1.88% of home value; Hawaii is lowest at 0.29%.
Does this include my county rate?
No — it uses the state average. Check your county assessor for the exact rate.