Place value is ones, tens, hundredths, thousandths.
I.e. 123.56
1 is in the hundreds place. 2 is in the tens place. 3 is in the ones place. And after the decimal you add -th to the end of the place value (tens->tenths). So 5 is in the tenths place (to the right of the decimal you skip the ones place). And 6 is the hundredth place. Hope this helps!