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Mill

1/1,000, or 10% of 1% of a measure. Mills are used in the calculation of property taxes. See also: Mill rate.

mill

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.

References in periodicals archive ?
Along with Bachman, Milling spent three months training with the U.
6 million in the milling segment resulted largely from problems in the flour milling business.
Bryce Seidl, President and CEO of Fisher Mills characterized the acquisition of Koch's interest as a measure of Fisher's commitment to advancing the flour milling industry.
103 East Front Street Red Bank, NJ 07701 (201) 530-2100 Jeffrey Herring, President Services offered; Rubber calendering, milling, mixing
His great grandfather started a milling and tanning operation in Dubuque, Iowa, which produced blankets and leather goods into the nineteen thirties.