Property Tax Calculator

Take the assessed value, subtract any exemptions to get taxable assessed value, multiply by the local tax rate, then add special assessments. If you only know your state, multiply market value by the state average effective rate instead, because that rate already accounts for assessment ratios and typical exemptions.

No calculator can be accurate at ZIP level without pulling your parcel record, because rates are set by overlapping county, city and school district boundaries that do not follow ZIP codes. Use the state average here for a planning estimate, then look up your exact millage on your county assessor or treasurer website and enter it under "My local rate".

A mill rate applies to taxable assessed value, while an effective rate is the tax you actually pay divided by market value. Assessment ratios and exemptions sit between the two, so a jurisdiction assessing at 40 percent of value taxes far less than its headline mill rate suggests. Never apply a state average effective rate to an assessed value; that double-counts the same discount.

Market value is what the home would sell for. Assessed value is the figure the assessor puts on the tax roll, often a set percentage of market value, and in some states it is frozen or capped until the property changes hands.

One mill is one dollar per thousand dollars of value, so ten mills equals one percent. A 24.5 mill rate is 2.45 percent, and a 7.5 mill rate is 0.75 percent. This calculator converts either direction and shows the conversion in the steps.

Most reduce taxable assessed value rather than the tax bill, so what you save is the exemption multiplied by your rate, not the exemption itself. A 50,000 dollar homestead exemption at a 1.1 percent rate saves 550 dollars a year.

Only if you itemize, and only within the combined state and local tax limit of 40,400 dollars for 2026, which is halved for married taxpayers filing separately and phases down above 505,000 dollars of income. Because the standard deduction is 32,200 dollars for joint filers in 2026, most homeowners itemize nothing and get no federal benefit at all. Turn on the after-tax view to check your own case.

Measured as tax paid against home value, Illinois is highest at 1.79 percent and New Jersey follows at 1.68 percent, while Hawaii is lowest at 0.31 percent and Alabama next at 0.37 percent. The national average is 0.85 percent. The full ranking for all 50 states and DC is in the table above.