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Take your total property tax rate and multiply it by the value of the property you are dealing with. The answer you get is the amount of money you owe in property tax. 1  Don't forget that, to multiply a percentage, you must either first change the percentage back to its decimal form or else divide your answer by 100. 2  In our example, our total property tax rate is 6% and our property is worth $664,000.
Property tax rates vary by area and are subject to change depending on your tax district's financial needs. Contact the tax assessor or check your tax authority's website to determine the current tax rate. The most basic way to calculate your tax bill is to multiply the general tax rate by your home's assessed value. Because assessed value can change annually, you need your most recent assessment value.