Property Tax Exemption Calculator

Estimate your property tax savings from senior, veteran, and disability homestead exemptions available in your state.

Results

Visualization

How It Works

Most states offer property tax exemptions for seniors, veterans, and disabled homeowners. These reduce your assessed home value before tax is calculated, which can save hundreds to thousands of dollars per year.

The Formula

Taxable Value = Assessed Value − Homestead − Senior − Veteran Exemptions
Tax Savings = (Exemptions) × Tax Rate

Variables

  • Assessed Value — Your home's value for tax purposes (may differ from market value)
  • Tax Rate — Local property tax rate (national average ~1.1%)
  • Exemptions — Dollar amounts subtracted from assessed value before tax calculation

Example

$300,000 home at 1.1% rate: Tax = $3,300. With $50,000 homestead + $25,000 senior exemption: Tax = $2,475. Savings = $825/year ($68.75/month).

Tips

  • You must apply for exemptions — they are NOT automatic. Contact your county assessor's office.
  • Some states offer a "senior freeze" that locks your assessed value at the year you turned 65.
  • Disabled veterans with 100% rating may qualify for complete property tax exemption.
  • Income-based property tax credits/rebates exist in many states — check even if you don't qualify for standard exemptions.
  • File by the deadline (often March 1 or April 1) — late applications may not be accepted until the following year.

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