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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.
The Appraised Value for each taxable property in a county is determined by the county property assessor. 2. ASSESSMENT RATIO. The Assessment Ratio for the different classes of property is established by state law (residential and farm @ 25% of appraised value, commercial/industrial @ 40% of appraised value).3.hese tax rates vary depending on the level of services provided and the total value of the county s tax base. To calculate the tax on your property, multiply the ASSESSED VALUE by the TAX RATE. Assume you have a house with an APPRAISED VALUE of $100,000.