Millage Rate
Millage Rate means:
a tax rate applied to property. Each mill represents $ 1 of tax assessment per $1,000 of assessed property value.
Example of Millage Rate:
Learn more about tax examples, explanations and calculations here.
The millage rate for property taxes in the Bumpton school district is 20 mills. A home with an assessed value of $100,000 pays $2,000 a year in property taxes to the district.
See Property Tax in the American Legal Encyclopedia and Property Tax in the World Legal Encyclopedia.
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