Definition of «mill levy»

The phrase "mill levy" refers to the property tax rate expressed in mills, where one mill is equal to one-tenth of a cent. It is a way to measure and calculate the amount of tax owed on a property based on its assessed value. For example, if the mill levy is 10 mills and your property is valued at $100,000, your property tax would be $1,000.

Sentences with «mill levy»

Notably, school districts with recently failed mill levy ballot measures, had success this year. (apluscolorado.org)
Allow charter public schools to participate in school district bonding and mill levy requests. (bluum.org)
Re-1 was one of only five school districts in Colorado to pass such a measure, out of 23 districts that had local mill levy override questions on the fall ballot. (postindependent.com)
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