Mill Rate

Definition:
Mill Rate is one-tenth of a cent. Some states use a mill rate to determine real estate taxes. A rate of 29 mills would be a tax of $0.029 for each dollar of assessed value.
Mill Rate is one-tenth of a cent. Some states use a mill rate to determine real estate taxes. A rate of 29 mills would be a tax of $0.029 for each dollar of assessed value.
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