How is property tax calculated in the US?

US property tax = Assessed Value × Tax Rate (mill rate). Assessed value is typically a percentage of market value (assessment ratio). Tax rates expressed as mills (1 mill = 0.1%). Example: $400K home, 80% assessment ratio, 15 mills = $400K × 0.80 × 0.015 = $4,800/year. Rates range from 0.28% (Hawaii) to 2.49% (New Jersey). Average US effective rate: 1.1% of market value.

How does UK Council Tax work?

UK Council Tax is based on property bands (A through H) set based on 1991 valuations — not current market value. Band D (£68K–£88K in 1991) is the reference rate, averaging £2,065/year nationally (2023/24). Higher bands pay more, lower bands less. London is an exception: values were much higher even in 1991. Properties can be appealed for a lower band. Scotland and Wales have separate systems.

Do Australian homeowners pay property tax?

Australia has land tax (not property tax) on the unimproved land value. Principal residences are exempt. Investment properties, commercial properties, and holiday homes are taxable. Rates vary by state: NSW: 1.6% above $1,075,000 threshold. Victoria: 0.2–2.55% above $300,000. Queensland: 1.7–2.75%. Many Australian states are introducing land tax reforms to fund housing supply.

🇺🇸 US Mill Rate 0.28–2.49% 🇬🇧 Council Tax Bands 🇦🇺 Land Tax 🇨🇦 Municipal Tax

Property Tax Calculator

Estimate annual property tax and monthly escrow amount. Property taxes vary dramatically — from 0.28% in Hawaii to 2.49% in New Jersey. UK uses Council Tax bands, Australia uses land tax (with principal residence exemption).

Quick Answer

US average: 1.1% of home value annually. $400K home: ~$4,400/year ($367/month). New Jersey $400K: ~$10,000/year. UK: flat Council Tax based on 1991 bands — Band D avg £2,065/year. Australia: land tax on investment/commercial (principal residence EXEMPT).

💡 US property tax: avg 1.1% nationwide. Rates vary from 0.28% (Hawaii) to 2.49% (New Jersey). Assessed value is often 60–100% of market value.

Market / Property Value ($)

Assessment Ratio (%)

Tax Rate (% of assessed)

Property Tax Rates by Country & Region

Location	Effective Rate	On $400K Home
🇺🇸 Hawaii (lowest US)	0.28%	~$1,120/year
🇺🇸 California	0.75%	~$3,000/year
🇺🇸 US Average	1.1%	~$4,400/year
🇺🇸 Texas	1.8%	~$7,200/year
🇺🇸 New Jersey (highest US)	2.49%	~$9,960/year
🇬🇧 UK (Council Tax, Band D)	Flat ~£2,065/yr	~£2,065/year regardless
🇨🇦 Toronto	0.63%	~CA$3,360/year
🇨🇦 Vancouver	0.27%	~CA$1,440/year
🇦🇺 Principal Residence	0%	Exempt from land tax
🇦🇺 Investment Property (NSW)	1.6% above threshold	Varies — threshold applies

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Cite this page APA · MLA · BibTeX

APA

WorldCalculators.org. (n.d.). Property Tax Calculator: US, UK Council Tax & AU Land Tax. https://worldcalculators.org/calculators/property-tax/

MLA

“Property Tax Calculator: US, UK Council Tax & AU Land Tax.” WorldCalculators.org, worldcalculators.org/calculators/property-tax/.

BibTeX

@misc{worldcalculatorscalculatorspropertytax,
  title        = {Property Tax Calculator: US, UK Council Tax & AU Land Tax},
  author       = {{WorldCalculators.org}},
  year         = {n.d.},
  howpublished = {\url{https://worldcalculators.org/calculators/property-tax/}}
}

Figures change when tax years or guidance change. Cite the date shown and link the page so readers see the current version.