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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 ?
Milling said the level of training and competition over the summer improved her passing and defense.
6 million in the milling segment resulted largely from problems in the flour milling business.
Bowers Equipment: Grinders, mills, extruders, autoclaves Services offered: Specialty elastomer reclaiming, metal insert recovery and custom blending, calendering, milling, pelletizing, preforming, refining and screening Capacity: 6 million lbs.
will acquire Koch Agriculture's 50% interest in the jointly owned Blackfoot, Idaho, flour milling facility.