Property Tax Estimator
Calculate your annual property taxes with state averages or custom rates
Property Tax Estimator
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Current market value of your property
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Homestead, senior, veteran exemptions, etc.
Understanding Property Taxes
Property taxes are a significant ongoing expense for homeowners and real estate investors. This calculator helps you estimate your annual property tax burden based on your property's value and location.
Property tax rates vary significantly by state and local jurisdiction. Our calculator includes average rates for all 50 states, but remember that your actual rate may differ based on your specific county, city, or special tax districts.
Most property taxes are calculated based on the assessed value of your property, which may be different from the market value. Many jurisdictions offer exemptions that can reduce your tax burden, such as homestead exemptions, senior citizen exemptions, or veteran exemptions.
Understanding your property tax obligations is crucial for budgeting, especially if you're considering buying a home or investment property. These taxes typically fund local services like schools, police, fire departments, and infrastructure.
Frequently Asked Questions
Property taxes are typically calculated by multiplying your property's assessed value by the local tax rate (mill rate). The assessed value may be a percentage of market value, and various exemptions may apply.
Market value is what your property would sell for on the open market. Assessed value is the value assigned by the tax assessor for tax purposes, often a percentage of market value (like 80% or 100%).
Common exemptions include homestead exemptions (for primary residences), senior citizen exemptions, veteran exemptions, disability exemptions, and agricultural exemptions. These can significantly reduce your tax burden.
Payment frequency varies by location. Some areas require annual payments, others semi-annual or quarterly. Many homeowners pay monthly through an escrow account with their mortgage payment.
Yes, property taxes can change due to changes in tax rates, reassessments of property value, or changes in exemption eligibility. Some states limit annual increases (like California's Prop 13).
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