To calculate the mill rate, is a term used to find out the mileage of worth for your property tax. This is a tax imposed on property owners based on the values of their property. First, they do an assessment to see the value of the land and buildings on your property. They take into effect the cost of replacing the buildings and land. Then, they assess a property tax rate which is in mileage.
. That mileage or " mill" is the percentage of the amount of tax per thousand that is due each year. For reference see: http://en.wikipedia.org/wiki/Property_tax#United_States
