What is a Mill Levy and how is it figured?
The mill levy is the tax rate used to calculate the tax bills of individual properties within a taxing area (or district). Each taxing authority determines how much revenue they need from property taxes and divides that by the total assessed value of the properties within their boundaries, as supplied by the Assessor. The resulting tax rate is multiplied by 1000 to come up with the mill levy.
The mill levy is the tax rate used to calculate the tax bills of individual properties within a taxing area (or district). Each taxing authority determines how much revenue they need from property taxes and divides that by the total assessed value of the properties within their boundaries, as supplied by the Assessor.
