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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.
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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.
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Search results for 'Millage Rate'
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http://www.investopedia.com/university/mortgage/mortgage6.asp
... paycheck. For this reason, you should pay careful attention to the tax
millage rate when you are looking for new place to live. ...
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http://www.investopedia.com/articles/professionaleducation/07/Series_7_municipal.asp
... Estimated Market (Sale) Value x Aassessment Rate (%) = Assessed Value x Millage
Rate (1 mill = $.001 or 1/10 th of a cent) = Taxes Due. ...
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http://www.investopedia.com/articles/tax/09/calculate-property-tax.asp
... Mill Levy or Millage Tax The mill levy is simply the tax rate levied on your property
value, with one mill representing one tenth of one cent. ...
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http://www.investopedia.com/exam-guide/series-7/portfolio-management/muni-bond-analysis.asp
... Tax rates are usually expressed as millage, or dollars per thousand. A rate of 50
mills means that for every $1,000 in property value, the owner would have to ...
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