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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.
Real property is taxed based on its classification. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. A tax rate is the amount of tax on each $100 of the assessed value of the property. The rates are established by the Council of the District of Columbia and may change from year to year. How the Real Property Tax Is Computed The amount of tax due is determined by dividing the assessed value of the property by $100, then multiplying that amount by the rate for the class associated with the property. For example, assume your property is classified as Class 1, which means your tax rate is $0.85, and your house is assessed at $100,000. To determine the tax, divide $100,000 by 100. That amount is $1,000.