If you can still cut precisely through paper it's still sharp, but if it drags and pulls when you're trying to get a clean cut it's time for a new blade. Mmm. Nothing feels as nice as a fresh blade.
So get some printer paper and do two horizontal and two vertical cuts that overlap so you have a square, if you lift the paper up and it basically falls right out, your blade is still sharp. If you have to like tear/force it out, then the blade was too dull and it's time for a new one.
Or just err on the side of caution and use a fresh blade anyways, they're not terribly expensive.