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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The city has substantial independent legal revenue-raising ability within the millage rate's statutory limit.
The general millage rate in Dauphin County is 6.876 mills, which equates to an annual property tax bill of $687.60 on a property assessed at $100,000.
(Longboat Key Town Manager Tom Harmer says Manatees millage rate is higher because Sarasota County tends to have a number of special districts like storm water districts and beach assessments districts.) A 2017-18 fiscal year Longboat Key report estimated the savings at about $2.5 million for Manatee property owners if their properties were moved into Sarasota.
For spatial characteristics, variables are included for the lot size, slope, millage rate, distance to the closest city, and length of shoreline; a binary variable is included indicating if the property is located in Dawson County.
(AP) -- Pulaski Technical College's Board of Trustees has voted to raise tuition and fees at the two-year college after failure of a plan to create a millage rate for the school.
In addition to capping the millage rate, the state created differential assessments for different categories of property.
Today was the county s self-imposed deadline to set its maximum millage rate. The legal deadline is Aug.
The monetary consideration for providing water and sewer for economic development projects differed with each agreement from a fixed-dollar amount, to the prevailing township millage rate plus 2 mils, plus the townships state revenue sharing money, plus the right of special assessment of everything but water and sewer.
The millage rate is then applied to the assessed value.
By projecting the NOI of the building at a stabilized occupancy (say 93 percent), then capping NOI, and then applying the current tax millage rate, an occupancy adjusted tax amount can be calculated.
Next, a millage rate is applied to the assessed value to determine the tax payment due.