Millage Rate

Filed Under »
Dictionary Says

Definition of 'Millage Rate'

The amount per $1,000 that is used to calculate taxes on property. Millage rates are most often found in personal property taxes, where the expressed millage rate is multiplied by the total taxable value of the property to arrive at the property taxes due. Millage rates are also used by school boards to calculate local school taxes to be collected, based on a derivation of the total property value within school district boundaries.
Investopedia Says

Investopedia explains 'Millage Rate'

The term is derived from the root word mill, which means "thousand". Millage rates are often expressed mathematically with the symbol %o, as in 1%o, which is one part per thousand, or 0.1%. Millage rates for individual properties are usually found on the property deed itself.

Articles Of Interest

  1.

    Tax Tips For The Individual Investor

    We give you seven guidelines to help you keep more of your money in your pocket.

  2. Using Tax Lots: A Way To Minimize Taxes

    The method of identifying cost basis can help you to get the most out of reduced tax rates.

  3. Selling Losing Securities For A Tax Advantage

    Tax-loss harvesting can help you to reduce taxes on your portfolio gains, but make sure you know the rules!

  4. Investing In Property Tax Liens

    Property tax liens can be a viable investment alternative for experienced investors that are familiar with the real estate market.

  5. 6 Tax Deductions That Might Get You Audited

    Incorrect or liberal interpretations of what you can write off will often lead to the IRS taking closer interest in your filings. Knowing the rules behind these six tax deductions will go a long ...

  6. Reasons Renting Is Better Than Buying

    Owning a home is much more expensive than renting. Here are the places where the costs differ greatly.

  7. How Property Taxes Are Calculated

    Understanding how property taxes work will ensure that you won't be overcharged.

  8. Why Monopoly Is A Terrible Finance Teacher

    With its plethora of inaccuracies, Monopoly doesn't offer the best lessons in real-world finance.

  9. Retirement Living: Renting Vs. Home Ownership

    Here are three simple questions you should consider when weighing this decision.

  10. I recently got married and now we (together) have two houses (hers and mine). I have only lived in mine for 13 months and was wondering if there was an exemption to capital gains tax if we could not reasonably afford the two properties?

    According to Jared R. Callister, a former attorney-advisor to the United States Tax Court and current tax attorney for the California firm Fishman Larsen Goldring and Zeitler, because you've ...
comments powered by Disqus
Marketplace
Hot Definitions

  1. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  2. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  3. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  4. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  5. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  6. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=098155539c34d769d2717ff226726d69