The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills." It is a figure that represents the amount per $1,000 of th… See more

Mill rate is also known as the millage rate. The term "millage" is derived from a Latin word millesimum,meaning thousandth, with 1 mill being equal to 1/1000th of … See more

The mill rate for your property is determined by who or what is taxing you. That means that different mill rates are charged by different agencies, including the township/ci… See more

Property taxesare calculated by multiplying the assessed, taxable property value by the mill rate and then dividing that sum by 1,000. The calculation formula is rendered as follows: … See more

Property taxes are critical to funding the operations of municipal and other local government entities. Not all states levy income taxes, but all states do levy property ta… See more