Definition
The property tax rate expressed as dollars per $1,000 of assessed value.
Not sure where this fits?
Answer a few questions and we’ll open the path that fits, at the right step.
Find my pathAbout this term
Mill rate (mills per $1,000) is multiplied by assessed value to calculate annual property taxes. Varies significantly by jurisdiction. Key factor in property cost.
Pro Tip
Verify mill rate in target jurisdiction; property tax costs vary dramatically by location.
Example
20 mill rate on $350,000 assessed value equals $7,000 annual property tax.