Property Tax Calculator
Estimate your annual and monthly property tax by state, including homestead exemptions and assessment ratios.
Up to $50,000 (primary residence)
Tax Breakdown
Property Tax Comparison by State
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Appeal your property tax
Think your property tax assessment is too high? Learn how to file a protest and potentially save thousands per year.
How Property Taxes Are Calculated
Property taxes are based on your home assessed value multiplied by the local tax rate. But the formula differs by state. Some states assess at full market value (Florida, Texas, Virginia, Washington), while others use a fraction — Georgia assesses at 40%, Ohio at 35%, Colorado at just 7.15%. This calculator adjusts for each state assessment ratio automatically when you select your state.
Homestead Exemptions Explained
Most states offer some form of homestead exemption that reduces the taxable value of your primary residence. Texas offers the largest general exemption at $100,000 off for school district taxes. Florida exempts the first $50,000 of assessed value. Ohio offers $25,000 off market value but only for homeowners 65 and older or those with disabilities. The exemption requirements and amounts vary widely — toggle the homestead option in the calculator to see the savings for your state.
Why Tax Rates Vary So Much
Property tax rates reflect local government funding decisions. States without income tax (Texas, Florida, Tennessee, Washington) tend to have higher property tax rates because they rely more heavily on property taxes for revenue. States with income taxes can keep property rates lower. Within each state, rates also vary by county and school district. The rates in this calculator represent state averages — your actual rate may be higher or lower depending on your county.
How to Lower Your Property Taxes
If your assessed value seems too high, you can file a property tax appeal. Every state has a formal process, usually through a county board of equalization or board of revision. Success rates vary but many homeowners save hundreds or thousands per year by challenging their assessment. We have state-specific appeal guides for all 10 states in our coverage area — search for your state property tax appeal guide in our home buying section.
Property Taxes When Buying a Home
Property taxes significantly affect your monthly mortgage payment and total housing cost. A home in Texas with a 1.8% effective rate costs $600/month in taxes on a $400,000 home — compared to $207/month in Colorado with a 0.55% rate. That $393/month difference adds up to $4,716 per year. Factor property taxes into your affordability calculation using our affordability calculator, and check closing cost details for tax prorations at closing.