Estimate your property taxes and see how they may change over time
| Year | Home Value | Annual Tax | Monthly | Cumulative |
|---|---|---|---|---|
| 1 | $412,000 | $4,623 | $385 | $4,623 |
| 2 | $424,360 | $4,857 | $405 | $9,479 |
| 3 | $437,091 | $5,102 | $425 | $14,581 |
| 4 | $450,204 | $5,360 | $447 | $19,942 |
| 5 | $463,710 | $5,632 | $469 | $25,574 |
| 6 | $477,621 | $5,917 | $493 | $31,490 |
| 7 | $491,950 | $6,216 | $518 | $37,706 |
| 8 | $506,708 | $6,531 | $544 | $44,237 |
| 9 | $521,909 | $6,861 | $572 | $51,098 |
| 10 | $537,567 | $7,208 | $601 | $58,306 |
| 11 | $553,694 | $7,573 | $631 | $65,879 |
| 12 | $570,304 | $7,956 | $663 | $73,835 |
| 13 | $587,413 | $8,359 | $697 | $82,194 |
| 14 | $605,036 | $8,782 | $732 | $90,976 |
| 15 | $623,187 | $9,226 | $769 | $100,202 |
| 16 | $641,883 | $9,693 | $808 | $109,894 |
| 17 | $661,139 | $10,183 | $849 | $120,078 |
| 18 | $680,973 | $10,699 | $892 | $130,776 |
| 19 | $701,402 | $11,240 | $937 | $142,016 |
| 20 | $722,444 | $11,809 | $984 | $153,825 |
Property tax is an annual tax on real estate, calculated by multiplying your property's assessed value by your local tax rate (often expressed as a millage). This calculator estimates the annual and monthly tax bill and projects how it grows over time as assessments rise.
Rates and assessment rules vary enormously by state and county — effective rates range from under 0.3% to over 2% of market value. Because tax is usually escrowed into the mortgage payment, increases show up as a bigger monthly bill even with a fixed-rate loan.
Annual tax = Assessed value × Assessment ratio × Tax rateThe principal-and-interest part of your payment is fixed; taxes and insurance are not. When assessments or rates rise, your escrow payment increases to cover the bigger bills — sometimes with a catch-up adjustment for a prior shortfall.
Yes. Most jurisdictions allow appeals within a window after assessment notices go out. Appeals succeed when you can show comparable homes assessed or sold for less, or errors in your property record (wrong square footage, condition issues). It costs little and reductions persist for years.
U.S. taxpayers who itemize can deduct state and local taxes — including property tax — up to the SALT cap ($10,000 for most filers under current law). Many households taking the standard deduction get no additional benefit. Consult a tax professional for your situation.
Don't rely on the seller's current bill — many areas reassess at sale. Multiply your expected purchase price by the local effective tax rate, and check the assessor's site for the assessment ratio and any exemptions you'd qualify for.
Assessed value times local rate sounds simple, but exemptions, reassessments, and appeals move the number by thousands. What homeowners should know.