What Is a 1 Mill Levy?

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Tip 1 - Mill Rate Definition | Investopedia

Published: 9 years, 4 month(s) ago | Submitted by Gorkem Gulan | permalink

The amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills"; as each mill is one-thousandth of a currency unit, one mill is equivalent to one-tenth of a cent or $0.001. Property tax in dollar terms is calculated by multiplying the assessed property value and the mill rate and dividing by 1,000.
Tags: property tax,mill rate,dictionary,glossary,education,investment,tutorials,investing,invest,investor,stocks,quotes,analysis,beginner,finance,financial,market,news,401k,ira,personal,definitions,terms,mutual funds,ipo,options,nasdaq,trader,trading

For further reading: http://www.investopedia.com/terms/m/millrate.asp ^[1]

Tip 2 - Mill Levy Definition | Investopedia

Published: 9 years, 4 month(s) ago | Submitted by Rodrigo r IOS | permalink

The assessed property tax rate used by local governments and other jurisdictions to raise revenue in order to cover annual expenses. The mill levy is calculated by determining how much revenue each taxing jurisdiction will need for the upcoming year, then dividing that projection by the total value of the property within the area, and finally adding up the rate from each jurisdiction to get the mill levy for the entire area.
Tags: government & politics,property tax,tax policy,mill levy,dictionary,glossary,education,investment,tutorials,investing,invest,investor,stocks,quotes,analysis,beginner,finance,financial,market,news,401k,ira,personal,definitions,terms,mutual funds,ipo,options,nasdaq,trader,trading

For further reading: http://www.investopedia.com/terms/m/mill-levy.asp ^[2]

Tip 3 - Mills and Millage Tax Rates Defined and Explained - What Are Mills and Millage Rates in Property Tax Language?

Published: 9 years, 4 month(s) ago | Submitted by Bridget Long | permalink

Definition and explanation of mills and millage rates -- as in property tax rates -- you hear about during budget and tax season every year. With some curious history thrown in.
Tags: taxes,language,linguistics,mills,millage,etymology,american language

For further reading: http://flaglerlive.com/8527/definition-origin-millage-mill/ ^[3]

Tip 4 - What Is a Mill Levy? | eHow

Published: 9 years, 4 month(s) ago | Submitted by Mark Riley | permalink

A mill levy, also known as a millage rate, is an alternate term for a property tax rate. Mill levies, when multiplied by the value of the property being taxed, provide a property's annual tax liability. Some governments call this number a mill levy or millage rate, but in simplest terms, it is your property tax rate.

For further reading: http://www.ehow.com/facts_4969256_what-mill-levy.html ^[4]