Property Tax Calculator
Updated on 22 Oct 2026 · Checked by Aotob
On a $400,000 home at 0.9%, property tax is about $3,600 a year.
That adds $300 a month to a mortgage payment held in escrow.
Property tax a year
$3,600
Rates run from about 0.3% in Hawaii to over 2% in New Jersey and Illinois. Check your county assessor for your rate, and ask about homestead, senior or veteran exemptions.
Show the working
(400,000 × 100% − 0) × 0.9% = 3,600
Tax by rate
| Rate | A year | A month |
|---|---|---|
| 0.3% | 1,200 | 100 |
| 0.6% | 2,400 | 200 |
| 0.9% | 3,600 | 300 |
| 1.2% | 4,800 | 400 |
| 1.6% | 6,400 | 533 |
| 2.2% | 8,800 | 733 |
Questions people ask
How is property tax calculated?
(Assessed value − exemptions) × tax rate. Some places assess only part of the market value, and some quote the rate in mills (per $1,000).
What are typical rates?
Effective rates run from about 0.3% in Hawaii to over 2% in New Jersey and Illinois. The US average is around 0.9%.
Can I lower it?
Claim any homestead, senior or veteran exemption, and appeal the assessment if it is above what similar homes sell for.
Updated 22 Oct 2026Source: Standard loan maths, checked October 2026Checked by AotobRates vary by county and city: check your local assessor.Report an issue