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.]

[Blacks Law 8th]