Mill Rate


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Mill Rate

The way a property tax assessment is expressed. It is called the mill rate because it is expressed in mills (one tenth of one cent) per dollar. The mill rate is the number of mills per dollar of a property's value.
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Based upon this analysis, a nonhomestead taxpayer's mill rate is 27.
In the next major statutory change, the 1989 Legislature eliminated the 1977 taxable value provision, returning to the older, simpler system of applying mill rates directly to assessed values.
It is the mill rate that is the unfair portion," said Quan.
Table 1 Taxable Values, Mill Rates, and Taxes Levied Statewide Taxable Value Mill Rate Taxes Fiscal Year ($ Millions) (Average) Levied 1987 2,308 242 559 1988 2,001 265 531 1989 1,943 256 498 1990 1,907 281 535 1991 1,573 327 514 1992 1,595 338 539 1993 1,633 344 561 1994 1,732 353 628 Change: '87 -576 120 69 to '94 Source: Department of Agricultural Economics and Economics, Montana State University, Bozeman, MT.
EPT mill rates are decided in the budget process and announced on budget day.
The county's 2012 budget keeps the mill rate constant and supplements the lack of adequate revenues with the use of reserves to fund debt service.
The 20-year bond for the project is a debt that has raised the mill rate by .
If the current budget request is approved, the mill rate will go up .
5% annual mill rate increases will provide sufficient funds to both eliminate the deficit over the near term and sustain balanced operations going forward.
The current mill rate of sugar is Rs 67 per kg; whole sale is Rs.
The reality of politics in town is that there is a pretty steep aversion to increasing the mill rate more than one mill," Mr.
The fiscal 2007 budget provides for a significant reduction in the mill rate due to the significant increase in AV with the revaluation.