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property tax
(redirected from millage)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
Property tax
A tax levied on real property based on its use and its assessed value.

Property Tax
A tax on the value of land or improvements (i.e. buildings). Occasionally, property taxes are levied on personal property, such as automobiles or securities, as well. All property taxes are calculated as a percentage of the value of the property. In the United States, most property taxes are levied at the city or county levels, and are used for municipal improvements, such as roads or snow removal. Municipalities can issue bonds that are secured by the proceeds on property taxes.

property tax

property tax

See ad valorem tax.



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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.
In cases where the property appraiser denies the application, the applicant may file a petition with the value adjustment board not later than 25 days following the property appraiser's mailing of the "Truth in Millage Notice.
The Quorum Court voted last week not to raise the millage or dip into the county's saving account to cover any shortfalls, he said.
 
 
 
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