Cartoon Guy Holding Stack Of Books

Non Sequitur

ABC Blocks

The tax rate on real estate, used to calculate property tax. one mill equals a tenth of a cent. to calculate property tax, divide the millage by 1,000 and multiply it by the propertys assessed taxable value. for example, if the millage rate is 20, and the taxable value of your house is $200,000, the property tax is 0.020 x $200,000 or $4,000.

Was This Term Helpful?

0 out of 0 found this helpful


Still got a question or concern?

Click here to contact us or go back to the main Glossary page.