🏠 Property Tax Calculator
Estimate your annual property taxes based on home value and location. Compare rates across different states and counties.
Property Details
Varies by jurisdiction
Understanding Property Taxes
Property taxes are annual taxes paid to local governments based on the assessed value of your real estate. They're a major component of homeownership costs.
How Property Taxes Are Calculated
Property Tax = Assessed Value × Tax Rate
States with Highest Property Taxes (2025)
| Rank | State | Effective Tax Rate | Tax on $300K Home |
|---|---|---|---|
| 1 | New Jersey | 2.49% | $7,470 |
| 2 | Illinois | 2.27% | $6,810 |
| 3 | New Hampshire | 2.18% | $6,540 |
| 4 | Connecticut | 2.14% | $6,420 |
| 5 | Vermont | 1.90% | $5,700 |
States with Lowest Property Taxes (2025)
| Rank | State | Effective Tax Rate | Tax on $300K Home |
|---|---|---|---|
| 1 | Hawaii | 0.32% | $960 |
| 2 | Alabama | 0.40% | $1,200 |
| 3 | Colorado | 0.51% | $1,530 |
| 4 | Nevada | 0.55% | $1,650 |
| 5 | Louisiana | 0.55% | $1,650 |
Property Tax Deduction
The IRS allows you to deduct up to $10,000 ($5,000 if married filing separately) of state and local taxes (SALT), including property taxes, from your federal income tax return.
References
- Tax Foundation. (2025). Property Taxes by State. TaxFoundation.org.
- U.S. Census Bureau. (2025). Annual Survey of State and Local Government Finances. Census.gov.
- IRS. (2025). Publication 530: Tax Information for Homeowners. IRS.gov.
Last Updated: February 17, 2026
Disclaimer: Tax rates vary by county and municipality. Contact your local tax assessor for exact rates.
Disclaimer: Tax rates vary by county and municipality. Contact your local tax assessor for exact rates.