1. August 13, 2009

2.  It is a unit of measurement used to levy taxes against property.  Local tax rates against property are always computed in mills.

3.  A mill is 1/10 of one penny.

4.  One mill produces $1.00 in tax income for every $1,000 of assessed value of property it is levied against.  One mill produces $1,000 in tax income for every $1 million of assessed value of property it is levied against.

5.  For example, if the total property assessed valuation for tax purposes in your school district was $50 million and the district had an effective tax rate of 30 mills, the income produced would be $1,500,000 per year.