mill(redirected from milled)
Also found in: Dictionary, Thesaurus, Legal, Idioms, Encyclopedia.
Related to milled: milled soap, milled around
One-tenth of one cent, or $0.001. Ad valorem (property) taxes are usually expressed in terms of a certain number of mills.A rate of 12.4 mills means that a property assessed for $100,000 would have ad valorem taxes of 12.4 (rate) 0.001 (mill) $100,000 (assessed value) for a tax of $1,240.