Gov't
What is a millage?
After the last few months, taxes, millages, assesessed values, and our tax rates have been in the minds of many Central residents. We will try to give the facts and hopefully help answer a few questions. Stay tuned for more information on these issues. Feel free to contact us with suggestions of issues that you feel need clarification and we will try to help you if we can.
Millage is the percentage of value that is used in calculating taxes. A mill is defined as 1/10 of 1 percent and is multiplied by the assessed value after any exemptions have been subtracted to calculate the taxes. (FOR EXAMPLE: If the tax rate is 100 mills and the total assessed value is $10,000 with no exemptions, the taxes would be calculated as $10,000 x .100 = $1,000.00.)
Be sure to check back for more information. An informed community is an involved community.
0 comments