Property Tax Calculator
Estimate annual and monthly property taxes with 50-state assessment ratios, homestead exemptions, and effective rates
50-State Property Tax Comparison (2026)
Sorted by effective tax rate (lowest to highest). Click a state to load it in the calculator above.
| Rank | State | Effective Rate | Assessment Ratio | Homestead Exemption | Tax on $300K |
|---|---|---|---|---|---|
| 1 | Hawaii | 0.28% | 100% | None | $840 |
| 2 | Alabama | 0.41% | 10% | $4,000 | $107 |
| 3 | Colorado | 0.51% | 7.15% | Yes (variable) | $109 |
| 4 | Louisiana | 0.51% | 10% | $7,500 | $115 |
| 5 | Delaware | 0.56% | 100% | None | $1,680 |
| 6 | District of Columbia | 0.56% | 100% | $81,250 | $1,225 |
| 7 | South Carolina | 0.57% | 4% | $50,000 | $0 |
| 8 | Utah | 0.58% | 100% | Yes (variable) | $1,740 |
| 9 | West Virginia | 0.59% | 60% | $20,000 | $944 |
| 10 | Nevada | 0.60% | 35% | $6,050 | $594 |
| 11 | Wyoming | 0.61% | 9.5% | None | $174 |
| 12 | Arizona | 0.62% | 10% | Yes (variable) | $186 |
| 13 | Arkansas | 0.62% | 20% | $375 | $370 |
| 14 | Tennessee | 0.64% | 25% | $47,000 | $179 |
| 15 | Idaho | 0.69% | 100% | $125,000 | $1,207 |
| 16 | California | 0.76% | 100% | $7,000 | $2,227 |
| 17 | North Carolina | 0.77% | 100% | $25,000 | $2,118 |
| 18 | New Mexico | 0.78% | 33.33% | $2,000 | $764 |
| 19 | Mississippi | 0.79% | 10% | $7,500 | $178 |
| 20 | Kentucky | 0.80% | 100% | $46,350 | $2,029 |
| 21 | Virginia | 0.82% | 100% | None | $2,460 |
| 22 | Montana | 0.83% | 100% | None | $2,490 |
| 23 | Indiana | 0.85% | 100% | Yes (variable) | $2,550 |
| 24 | North Dakota | 0.86% | 50% | None | $1,290 |
| 25 | Oregon | 0.87% | 100% | None | $2,610 |
| 26 | Oklahoma | 0.90% | 11% | $1,000 | $288 |
| 27 | Florida | 0.91% | 100% | $50,000 | $2,275 |
| 28 | Missouri | 0.91% | 19% | None | $519 |
| 29 | Georgia | 0.92% | 40% | $2,000 | $1,086 |
| 30 | Washington | 0.93% | 100% | None | $2,790 |
| 31 | Minnesota | 1.02% | 100% | Yes (variable) | $3,060 |
| 32 | Massachusetts | 1.04% | 100% | $500,000 | $0 |
| 33 | Kansas | 1.06% | 11.5% | None | $366 |
| 34 | Maine | 1.09% | 100% | $30,000 | $2,943 |
| 35 | Maryland | 1.09% | 100% | Yes (variable) | $3,270 |
| 36 | Alaska | 1.19% | 100% | $50,000 | $2,975 |
| 37 | South Dakota | 1.24% | 85% | None | $3,162 |
| 38 | Pennsylvania | 1.27% | 100% | Yes (variable) | $3,810 |
| 39 | New York | 1.31% | 100% | Yes (variable) | $3,930 |
| 40 | Iowa | 1.38% | 100% | Yes (variable) | $4,140 |
| 41 | Rhode Island | 1.41% | 100% | None | $4,230 |
| 42 | Ohio | 1.45% | 35% | Yes (variable) | $1,523 |
| 43 | Michigan | 1.48% | 50% | Yes (variable) | $2,220 |
| 44 | Nebraska | 1.53% | 100% | Yes (variable) | $4,590 |
| 45 | Wisconsin | 1.58% | 100% | None | $4,740 |
| 46 | Texas | 1.60% | 100% | $40,000 | $4,160 |
| 47 | Vermont | 1.68% | 100% | None | $5,040 |
| 48 | Connecticut | 1.75% | 70% | None | $3,675 |
| 49 | New Hampshire | 1.96% | 100% | None | $5,880 |
| 50 | Illinois | 2.05% | 33.33% | $10,000 | $1,845 |
| 51 | New Jersey | 2.23% | 100% | None | $6,690 |
How Property Tax Is Calculated
The Four-Step Formula
Unlike a simple percentage of your home's price, property tax follows a multi-step calculation that varies by state:
Why Assessment Ratios Matter
The assessment ratio is the most overlooked factor in property tax. Two homes with the same market value and the same nominal millage rate can have very different tax bills depending on the assessment ratio. For example, a $300,000 home in South Carolina (4% assessment ratio) has an assessed value of $12,000, while the same home in Illinois (33.33% ratio) has an assessed value of $100,000. This is why effective tax rates (tax as a percentage of market value) are the only apples-to-apples comparison across states.
Homestead and Other Exemptions
Most states offer exemptions that reduce the taxable value of a primary residence. The most common is the homestead exemption, which ranges from $7,000 (California) to $500,000 (Massachusetts). Many states also offer additional exemptions for seniors (65+), disabled veterans, and people with disabilities. These exemptions can reduce annual tax bills by hundreds or even thousands of dollars, but they typically require a one-time application with your county assessor.
Special Assessments and Mello-Roos
In some states, particularly California, Florida, and Texas, your property tax bill may include special assessments or community facilities district taxes (like Mello-Roos in California). These pay for local infrastructure such as roads, schools, parks, and sewer systems, and can add 0.2% to 1.0% to your effective tax rate. They are often tied to specific developments and may expire after a set number of years. Always check your county tax bill for these line items, as they are not included in standard millage rate comparisons.
Official Standards & Authoritative Sources
Frequently Asked Questions
How is property tax calculated?
What is an assessment ratio?
What is a homestead exemption?
Which state has the highest property taxes?
Which state has the lowest property taxes?
Can I appeal my property tax assessment?
When is my property tax appeal deadline?
Reviewed & verified by the RateFig Editorial Team. Data retrieved 2026-08-27. Estimates are planning aids, not financial advice — see our editorial standards.
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