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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.
Tax Rate - The Tax Rate for each county is set by the county commission based on the amount of monies budgeted to fund the provided services. These tax rates vary depending on the level of services provided and the total value of the countyâs tax base. To calculate the tax on your property, multiply the ASSESSED VALUE by the TAX RATE. For Example, assume you have a house with an APPRAISED VALUE of $100,000. The ASSESSED VALUE is $25,000 (25% of $100,000), and the TAX RATE has been set by your county commission at $3.20 per hundred of assessed value.