Property Tax Calculator - Free Online Calculator | WikEst
Estimate annual and monthly property tax from home value, assessment ratio, and local tax rate. No signup. Updated 2026.
Property Details
Estimated current market value of the property
Assessed value as % of market (100% in many counties)
Annual effective rate. US avg ≈ 0.9% (Tax Foundation)
Your Estimated Property Tax
The effective rate shown is the annual tax as a share of full market value — the figure most often compared across states.
How This Breaks Down
Understanding Property Taxes in 2026
Property tax is the largest source of revenue for most local governments — it funds schools, roads, emergency services, and libraries. Because it is set locally, two identical homes a county apart can carry very different annual bills. This calculator gives you a defensible estimate from three inputs you can usually find on your county assessor's website.
The Calculation
For example, a $400,000 home assessed at 100% with a 1.0% tax rate owes $4,000 per year, or about $333 per month. Raise the rate to 2.0% (common in some Northeast and Midwest counties) and the same home owes $8,000 annually.
Where the Money Goes
Why Rates Differ So Much
States with no income tax (such as Texas and Florida) lean more heavily on property tax, while others keep effective rates low by drawing on other revenue. The Tax Foundation publishes an annual ranking of state-and-local effective property tax rates; the US average effective rate is about 0.9%, with a wide spread from roughly 0.3% to over 2.2% across states. Always confirm your county's published rate and assessment ratio — they are the only numbers that determine your bill.
Property Tax Calculator: A 2026 Homeowner's Guide
Your mortgage payment is only part of the true cost of owning a home — property tax can add hundreds of dollars a month on top of principal and interest. This 2026 property tax calculator estimates your annual and monthly tax from your home's market value, your county's assessment ratio, and the local tax rate, so you can budget accurately before you buy or challenge an assessment you think is too high.
Market value vs assessed value
The single most misunderstood step is the assessment ratio. If your county assesses homes at 80% of market value, a $400,000 home is "worth" $320,000 for tax purposes — but the rate is set higher to compensate. The number that actually matters is the effective rate (annual tax ÷ full market value), which is what you should compare across locations. This calculator shows both the assessed value and the effective rate so neither is hidden.
How property tax fits your monthly housing cost
Lenders collect property tax (and often insurance) through an escrow account, bundling it into your monthly payment. A home with a 1.0% effective rate and a $4,000 annual bill adds about $333/month to the principal-and-interest payment. Use the mortgage payment calculator to see the full PITI picture, and the down payment calculator to model how a larger down payment changes your loan — though note that down payment does not change the property tax, which is based on the home's value, not your loan size.
Challenging a high assessment
If your assessed value is above recent comparable sales, you may be able to appeal. Most counties have a formal appeal window (often in the spring) and require comparable sales data. Exemptions — homestead, senior, veteran, and disability — can also lower the taxable base. These are local programs with strict deadlines, so contact your county assessor directly. The figures on this page were last reviewed on August 4, 2026, and reflect widely published effective-rate averages; your specific bill is set by your county.
Frequently Asked Questions
How is property tax calculated?
Most US counties multiply your home's assessed value by the local tax rate. Assessed value is often a percentage of market value (the assessment ratio), and the tax rate is expressed as a percentage (effective rate) or as mills (dollars per $1,000 of assessed value). The formula is: Assessed Value × Tax Rate = Annual Tax. Our calculator applies this directly, then divides by 12 for the monthly figure.
What is a typical property tax rate in the US?
The effective property tax rate (annual tax as a share of home value) averages about 0.9% nationwide, but it varies enormously by state and county — from roughly 0.3% in some low-tax states to over 2.0% in high-tax areas, according to the Tax Foundation's ranking of state and local effective rates. Your actual bill depends on your specific county, school district, and any exemptions.
What is the difference between assessed value and market value?
Market value is what your home would sell for; assessed value is the value your local assessor uses for tax purposes, typically a percentage (the assessment ratio) of market value. Some jurisdictions assess at 100% of market value, while others assess at 70-90%. A lower assessment ratio does not automatically mean a lower bill — the tax rate is set to compensate.
Can I lower my property tax bill?
Three common routes: (1) file an assessment appeal if your assessed value is higher than comparable sales; (2) claim exemptions you qualify for (homestead, senior, veteran, disability); and (3) check that your assessment ratio and tax rate match your county's published figures. Exemptions and appeal windows are set locally, so contact your county assessor for deadlines.
Are property taxes deductible on federal income tax?
You can deduct state and local property taxes (along with state income or sales tax) if you itemize, but the SALT deduction is capped at $10,000 per household ($5,000 if married filing separately) under current federal law. Mortgage interest and property tax are separate deductions. Confirm current limits with a tax professional.
Is this property tax calculator free and private?
Yes — 100% free, no signup, no email, no account. The calculation runs entirely in your browser and your home value, assessment ratio, and tax rate never leave your device. Run as many scenarios as you want.
Disclaimer
This calculator provides estimates for educational purposes only. Results depend entirely on the home value, assessment ratio, and tax rate you enter — which vary by county and change over time. It does not constitute tax advice or a tax bill. For your actual assessed value, rate, and exemptions, contact your county assessor's office. WikEst is not a tax authority or advisor.
Related Guides
- Which Renovations Have the Best ROI
- How Renovations Affect Resale Value
- State-by-State Renovation Impact
- Basement Finishing ROI