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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Mill rate (MR) is the sum of mill rates of all local governments in which a particular property is located: county, school district, and, in some cases, city, township, and/or special district(s).
Property tax mill rates were raised and city voters began rejecting the first of seven attempts to resurrect a sales tax.
Thus, counties with low taxable values tend to have high mill rates, and vice-versa.
This tax rider or tax load is developed by multiplying the current or last known tax rate (divided by 100) by the local assessment level and by the state equalizer.(2) In jurisdictions that use mill rates, the mill rate is directly substituted for the tax rider or load.
The commodities would be available at the shops at the rate less than 10 to 15 percent from market rate and in most of the cases at ex mill rates.
The commodities will be available at these shops at the rate less than 10 to 15 percent from market rate and in most of the cases at ex mill rates.
The data also show dramatic increases in mill rates. The statewide average doubled between 1987 and 1994, partly to pay for school equalization and partly to offset lost revenues from oil, gas, and coal.
Table 1 reports statewide taxable values, mill rates, and taxes levied for each year from 1987 through 1994.