what is the mill rate 
the mill rate is the amount of tax payable per dollar of the assessed value of a property it is a figure that represents the amount per 1 000 of the assessed value of the property which is used to calculate the amount of property tax understanding the mill ratemill rate is also known as the millage rate the term millage is derived from a latin word millesimum meaning thousandth with 1 mill being equal to 1 1000th of a currency unit as used in relation to property tax 1 mill is equal to 1 in property tax which is levied per 1 000 of a property s determined taxable value 12you can find the millage rate for an individual property on the property deed itself or by calling your municipal tax office 