The Real Estate Encyclopedia
What Is A Mill Rate?
Category - Real Estate Information Sources - General Real Estate Information

A mill rate is a formula used to calculate property taxes by a local government on real estate properties in a particular district.  The value of a mill rate is expressed in mills per dollar of assessed valuation.  One mill equals one-tenth of a cent.  Therefore, a 4-cent tax rate would equal 40 mills. 

 
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Real Estate Information Sources - General Real Estate Information
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