Property Tax Calculator
Easily estimate your annual property tax based on your property’s value and local tax rate.
home
percent
Annual Property Taxes - FAQs
What are property taxes, and why do I have to pay them?
Property taxes are local government fees used to fund public services like schools, roads, and emergency services. Every homeowner must pay them annually based on their home’s value and local tax rate.
How are property taxes calculated?
Property taxes are calculated by multiplying the home’s assessed value by the local tax rate. For example, if your home is worth $300,000 and the tax rate is 2%, you’d pay $6,000 annually.
Can I lower my property tax bill?
Yes! You can challenge your home’s assessed value, apply for exemptions (such as homestead or senior exemptions), and check for tax relief programs in your area.
What happens if I don’t pay my property taxes?
Unpaid property taxes can lead to penalties, interest, a tax lien on your home, and even foreclosure. Some states allow tax lien sales where third parties can buy your debt.
Are property taxes included in my mortgage payment?
Yes, most lenders collect property taxes along with your mortgage payment and place them in an escrow account. The lender then pays the taxes on your behalf.
YOUR DREAM, YOUR HOME
Start your Homebuying Journey with SouthFork Funding.
Your dream is our goal.
We are part of your community, too.
SouthFork Funding's goal is to help people change their lives through our wide loan options. We help make homeownership dreams come true, while working together to end homelessness. Every home we help create brings us one step closer to a world where everyone has a safe, secure place to live.
$4B+
loans closed to date
25+
years of experience
5.0
stars rating on Google Reviews