What is the mill levy and how is the mill levy set?
The mill levy is the tax rate that is applied to the assessed value. In general terms, the mill levy is determined by dividing the dollars needed for local services by the taxable assessed value in the service area. An additional amount of 20 mills in then added for public schools and 1.5 mills for an educations building fund. After the local government budgets are published and meetings are completed in August of each year, the county clerk computes the final mill levies for each tax unit and certifies the tax roll to the county treasurer for collection.
