How to Use the Multi-Property Tax Calculator
Owning multiple properties means paying property tax on each one. Annual property tax is calculated by multiplying the assessed value by the local tax rate (expressed as a percentage). Rates typically range from 0.5% to 2.5% depending on state and county.
Enter the assessed value and tax rate for each property you own to see your total annual property tax bill and monthly equivalent. Homestead exemptions on your primary residence may reduce the taxable value — check your local assessor for details.
Frequently Asked Questions
The national average is about 1.1% of assessed value, but rates vary widely. New Jersey averages over 2%, while Hawaii is under 0.3%. Always check your local county assessor for your specific rate.
You can deduct up to $10,000 in total state and local taxes (SALT), which includes property taxes, under current federal law. If you own multiple properties, only a combined $10,000 is deductible.
Most counties bill property tax annually or semi-annually. Many lenders collect it monthly through an escrow account included in your mortgage payment, then pay the tax bill on your behalf.