Mill Rates

The mill rate, also referred to as the millage rate or tax rate, is a figure representing the amount per $1,000 of the assessed value of property, which is used to calculate the amount of property tax.

Example:  Mill Rate = $1,000.0000 (Total Levy of All Taxing Jurisdictions)/$25,000,0000 (Total Assessed Value of the Municipality) = .04

                                    0.04 x $1000 = $40 per $1,000 of assessed value