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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They include placing on the ballot a constitutional amendment that would allow local governments--with voter approval--to raise millage rates for the pensions.
He says 75 percent of the funding is coming from Grenada County through existing millage rates.
Millage rates (the amount per $1,000 of property value that is used to calculate property taxes) in Boynton Beach actually rose nearly 4.
Those tax revenues would provide new funding to the taxing districts in the first year and serve to reduce the millage rates for their levies in all subsequent years of operations.
The legislature has also imposed restrictions on millage rates for fiscal year 2008-2009 and thereafter.
which limited local governments' property tax revenue growth by imposing maximum millage rates based upon growth in state-wide per capita personal income and growth in the tax base due to new construction and additions within each jurisdiction; and (2) Ch.
Florida's counties recognize that there are Floridians who need property tax relief -- in 2006, two-thirds of the state's 67 county governments voluntarily reduced millage rates, resulting in more than a half billion dollars in savings to taxpayers statewide.
It took dozens of late-night meetings and back-and-forth between the various groups to certify the results, set the new millage rates and figure out what everybody was going to have to pay.
The district depends on new levies because existing millage rates cannot be adjusted for tax base declines, and do not benefit from tax base increases.
said it would need to raise millage rates to go forward with $17 million worth of construction projects.
This is because local lawmakers are voting for higher millage rates — the tax rate per $1,000 of property values — to counteract the low market values.
Zahorchak also said that since the 1999-2000 school year, more than a third of the districts have increased their property tax rates by at least 25 percent -- in just five years a 25 percent jump in millage rates.