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property tax
(redirected from Mill rate)

   Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
property tax
n.
A tax levied against the owner of real or personal property.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.property tax - a capital tax on property imposed by municipalitiesproperty tax - a capital tax on property imposed by municipalities; based on the estimated value of the property
capital levy - a tax on capital or property
council tax - a tax levied on households by local authorities; based on the estimated value of the property and the number of people living in it
Translations
property tax nimposta patrimoniale


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The mill rate corresponds to the rate of taxes on each $1,000 of assessed property value.
Voters will now be asked to consider a fiscal 2009 budget around $21 million with a mill rate of 17.
The tax amount due for any piece of property is given by Tax amount = assessed value x mill rate = AV x MR Mill rate (MR) is the sum of mill rates of all local governments in which a particular property is located: county, school district, and, in some cases, city, township, and/or special district(s).
 
 
 
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