mill

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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 ?
Today, as it operates mills around the world, Weyerhaeuser celebrates its beginnings 100 years ago and looks forward to the next 100 years.
The company added that Masetti will hold the officer's position as well as a member of its management team, with responsibility for the operation of its 60 precipitated calcium carbonate (PCC) plants located on site at paper mills around the world, succeeding its chief operating officer of Specialty Minerals and Minteq Group, D.J.
Even further away from the limelight is the Paper Stock Dealers subsidiary that provides feedstock to Sonoco's paper mills and other mills around the world.