What would an extra 5 mills or 7.25 mills cost on my home or business?
If your home has a market value of $100,000, the assessed valuation would be $11,500; an extra 5 mills would cost $57.50 per year and an extra 7.25 mills would cost $83.37 per year. If your business has a market value of $1,000,000, the assessed valuation would be $250,000; an extra 5 mills would cost $1,250.00 per year and an extra 7.25 mills would cost $1,812.50 per year.
