millage rate

Definition

A value used to calculate property taxes or school taxes. The millage rate is a value per $1,000 of property value, which is multiplied by the taxable value of the property to calculate the amount of taxes due on the property. The term comes from the Latin word "mil", meaning "thousand".
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
mill rate Miller and Modigliani's Irrelevance Proposition