About Property Tax Calculator

Calculate property taxes with exemptions and assessments. Part of the DevTools Surf developer suite. Browse more tools in the Real Estate & Home collection.

Use Cases

• Estimate annual property tax before purchasing a home to factor into total housing cost.
• Compare effective tax rates between two jurisdictions when considering relocation.
• Calculate the impact of a reassessment after a major renovation on annual tax liability.
• Determine whether appealing an assessment is financially worthwhile by estimating potential savings.

Tips

• Use the assessed value, not market value — most jurisdictions assess at a fraction (60–100%) of market value, and the tax is calculated on assessed value.
• Check your jurisdiction's exemption programs before calculating: homestead, senior, and veteran exemptions can reduce taxable assessed value by $25,000–$100,000+.
• Mill rates change annually — retrieve the current mill rate from your county assessor's website rather than using last year's rate.

Fun Facts

• Property taxes are the primary funding source for public K–12 education in the US, accounting for roughly 40% of school revenue nationally.
• New Jersey has consistently had the highest effective property tax rate among US states since 2016, averaging around 2.2–2.5% of market value annually.
• The concept of property taxation dates to ancient Egypt (3000 BCE), where Pharaohs levied taxes on land and crops assessed by state surveyors.

FAQ

How is assessed value different from market value?

Market value is what a property would sell for. Assessed value is set by the local assessor and is often a percentage of market value (the assessment ratio). The tax is: assessed value x mill rate / 1000.

Can I appeal my property tax assessment?

Yes — most jurisdictions have an annual appeal window, typically 30–90 days after assessment notices are mailed. You need comparable sales data showing your property is over-assessed relative to similar properties.