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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.
Calculating Property Tax for Real Estate. 1  1. Find the assessed value of the property being taxed. 2  2. Add the value of the land and improvements to get the total value. 3  3. Find the current local government's tax rate.  4. Find the property tax rates for other local 1  agencies. 5. Add your tax rates 2  up. 6. Multiply by your property value.