Tax Write Off Questions

[Austin Paulenske]

Hey guys,

This will be the first year I am writing off an investment property on my taxes and I'm having a hard time determining what my Assessed Value Ratio % and my Marginal Tax Rate are for tax season this year. 

1. Is the value ratio based on what I paid vs the appraisal or market value vs the appraisal?
2. Is my marginal rate based on rental property income from cashflow or my overall taxable income? 

Any input is appreciated, See snapshot below!