|
The mill rate is the tax rate set by your town or
municipality. A mill (or mil) is equivalent to 1/10 of a penny per dollar of assessed property value. Therefore, a
mill rate of 30 would be expressed as .0300. To calculate your property tax, multiply the assessed property value by .0300.
For example, a property assessed at $200,000 would be taxed as follows: $200,000 x .03 = $6,000.
|
