By locating the north celestial pole how can you determine your latitude?

The altitude of the celestial pole from the horizon actually tells you your latitude.

So If I locate Polaris, the star that our earth's celestial pole points to and I see it's 40 degrees above the horizon to the north, I know that my latitude is 40 degrees north. Think about the extremes, if your on the equator looking for the celestial pole, you would see it on the northern horizon correct? (0 degrees) Now think of where the celestial pole would be pointing when on the north pole. You guessed it, straight up! (90 degrees)