mill rate

mill rate. A tax applied to real property whereby each mill represents $1 of tax assessment per $1,000 of the property’s assessed value (the mill rate for taxes in this county is 10 mills, so for a home valued at $100,000, the owner will pay $1,000 in property taxes). — Also termed millage rate. [Cases: Taxation 305. C.J.S. Taxation § 440.]

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词条贡献者

译者Mathew，国际知名法学院国际仲裁与争端解决专业，擅长翻译各种与美国国内仲裁相关的法律文件。