Mortgages
Property Tax Calculator
Property tax is the ongoing cost of owning that never goes away — and it's set as a percentage of your home's value that varies widely by state and county. Enter your home value and effective rate to see the annual bill and what it adds to your monthly payment.
Tested against worked examplesHow we verify
Annual tax as a % of home value. US rates range from ~0.3% to ~2.2% — check your county assessor.
Annual property tax: $4,400
Annual property tax
$4,400
- Added to monthly payment
- $366.67
- Home value
- $400,000
- Effective rate
- 1.1%
Usually collected in escrow with your mortgage.
Compare scenariosTry three values of one input
| Home value | |||
|---|---|---|---|
| Annual property tax | $3,960 | $4,400+$440 | $4,840+$880 |
| Added to monthly payment | $330.00 | $366.67+$36.67 | $403.33+$73.33 |
| Home value | $360,000 | $400,000+$40,000 | $440,000+$80,000 |
Every other input stays at the value you set above — currently $400,000 for home value. Differences are measured against the first column.
Saved scenariosSave this calculation
Saved in this browser only — no account, and nothing is sent to us. Clearing your browser data deletes them.
How this calculator works
Annual property tax = home value × effective tax rate. The monthly figure divides that by 12, matching how lenders collect it in escrow.
Effective rates vary by county and municipality, and assessed value can differ from market value — so treat this as a planning estimate and confirm your exact rate and assessment with your county assessor. See our Property Tax by State pages for typical rates.
What this assumes
- The effective rate you enter, applied to assessed value. Assessed value often differs from market value, sometimes substantially.
- Exemptions — homestead, senior, veteran — are not applied and can reduce the bill significantly where they exist.
- Rates are set locally and change; the state figures shipped here are medians, not your county's rate.
What changes this number
- Assessment
- Reassessment after a purchase is a common surprise: the new owner is taxed on the price paid, not the previous assessment.
- Local rate
- Varies by more than a factor of ten between states, and within a state by district.
- Exemptions
- Where available they are worth applying for, and they are rarely automatic.
A worked example
Take the low-tax state (0.5%) scenario. These figures are produced by the calculator above, not written alongside it, so they always match what the tool returns.
What you enter
- Home value
- $400,000
- Effective property tax rate
- 0.5%
What it returns
- Annual property tax
- $2,000
- Added to monthly payment
- $166.67
- Home value
- $400,000
- Effective rate
- 0.5%
Try an example
Frequently asked questions
How is property tax calculated?
Your local government multiplies your home's assessed value by a tax rate (often expressed as a millage rate). Expressed as an effective rate — the tax as a percentage of market value — it typically runs from about 0.3% in low-tax states to over 2% in high-tax ones. On a $400,000 home at 1.1%, that's $4,400 a year.
What is an effective property tax rate?
It's the property tax you actually pay as a share of your home's market value, which lets you compare places on equal footing despite different assessment rules and millage rates. It's the number this calculator uses, and the one published in state-by-state comparisons.
Why do property taxes go up over time?
Two reasons: your home's assessed value rises with the market, and local governments adjust rates to fund schools and services. Some states (like California under Proposition 13) cap how fast assessments can climb, which is why a long-time owner can pay far less than a recent buyer next door.
Are property taxes included in my mortgage payment?
Usually, yes. Most lenders collect 1/12 of your annual property tax each month in an escrow account and pay the bill for you — which is why a 'fixed' mortgage payment can still rise when taxes or insurance go up. That monthly slice is what this calculator's 'added to monthly payment' figure shows.
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Disclaimer: DayCents provides this calculator for educational purposes only. Results are estimates based on your inputs and the stated assumptions — they are not financial advice, a quote, or an offer of credit. Consult a qualified financial professional before making major money decisions.