How to calculate property tax
Annual tax = Assessed value × Effective rate
Worked example. Annual property tax: $3,850.
Example inputs — Home value: $350,000; Effective tax rate: 1.1 %. Starting values are illustrative.
From George Guju, founder of Calculyn · Educational calculator guidance, not professional advice.
How it works
Property tax is your home's assessed value multiplied by the local effective rate. US effective rates range roughly from 0.3% (Hawaii) to over 2% (New Jersey, Illinois).
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Assumptions & limitations
- Results are rounded for display.
Formula and assumptions reviewed October 2026 by the Calculyn team. How we build our calculators
Frequently asked questions
Is assessed value the same as market value?
Often not — many areas assess at a fraction of market value or reassess on a schedule. Check your local assessor's figure for accuracy.