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What's Up with Mill Rates?

What's Up with Mill Rates?

Most municipalities mail tax bills this month. They’re a reminder of the costs & obligations of home ownership, and of the many amenities we get for our dollars. One mill equals a dollar of tax for every $1,000 of assessed property value. “Mill rate” is another way to say “property tax rate.” By state law, property is reevaluated every five years.