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- A mill levy is a property tax that is based on the assessed value of a property12. The rate of this tax is expressed in mills, which are equal to one dollar per $1,000 of assessed value12. The mill levy is applied by local governments and other jurisdictions to raise revenue to cover its budget and to pay for public services such as schools1.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
The mill levy is a property tax applied based on the assessed value of the property. The rate of the tax is expressed in mills - one mill is equal to one dollar per $1,000 of assessed value. The tax is applied by local governments and other jurisdictions to raise revenue to cover its budget and to pay for public services such as schools.
www.investopedia.com/terms/m/mill-levy.aspA mill levy is a property tax that is based on the assessed value of a property. The rate of this tax is expressed in mills. One mill is equal to $1 for every $1,000 of assessed value.
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