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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 calculate your property tax, multiply your property's assessed value by the tax rate, which consists of municipal, county and education rates. Our property tax calculator covers all municipalities in the GTA.he Municipal Property Assessment Corporation (MPAC) estimates the market value of each property in Ontario on a regular basis. This Current Value Assessment occurred in 2008 for the tax years from 2009 to 2012.