Property taxes are usually calculated per annum (year). Thus the annual tax for Reynaldo's newly purchased home can be calculated by multiplying the value of the asset by the per annum tax rate. Hence the annual (yearly) tax for Reynaldo would be $3705 ($195,000 x 1.9%). Then the monthly tax payment would be $308.75 ($3705 รท 12, because an year has 12 months)