The taxes vary by state and location. You normally have to pay property taxes that are assessed by the local school district, the state school system, the county government, the city government, and various other government entities. These taxes are based on the value of your property. On a $150,000 home, they may be $2000 a year as an example. The estimate of your taxes is divided by 12 and added to your monthly mortgage payment in most loans. The above example would add $167 to your monthly mortgage payment. The taxes can vary widely within the different geographical areas of the country. If you have additional questions regarding taxes in your local area, I recommend that you ask a realtor in your area for help with this issue.