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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.
To figure the property's assessed value, you need to know the assessment rate and your property's fair market value. Alternatively, if you know your tax bill and the tax rate, you can also calculate the assessed value of company property. 1. Divide the assessment rate by 100 to convert it to a decimal. If you do not know the assessment rate for your area, contact your state or local department of taxation or revenue. For example, if the assessment rate equals 35 percent, divide 35 by 100 to get 0.35.