Enter the total taxes needed ($) and the total assessed value ($) into the Mill Rate Calculator. The calculator will evaluate the Mill Rate.
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Mill Rate Formula
Property Tax = (Assessed Value - Exemptions) * Mill Rate / 1000
Mill Rate = Tax Levy / Total Assessed Value * 1000
- Mill Rate: tax in dollars per $1,000 of assessed value (1 mill = $1 per $1,000).
- Assessed Value: market value × assessment ratio.
- Exemptions: homestead, senior, veteran, or other deductions subtracted before tax is applied.
- Tax Levy: total dollars a taxing authority needs to raise.
Assessment ratios vary by jurisdiction. Some areas assess at 100% of market value, others use a fraction (for example 70% or 10%). Always confirm whether a posted rate is in mills, percent, or dollars per $1,000 before plugging it in.
Reference Tables
Use these to sanity-check the calculator output and convert between common rate formats.
| Mill Rate | Effective % | $ per $1,000 | Tax on $250,000 |
|---|---|---|---|
| 5 mills | 0.50% | $5.00 | $1,250 |
| 10 mills | 1.00% | $10.00 | $2,500 |
| 15 mills | 1.50% | $15.00 | $3,750 |
| 20 mills | 2.00% | $20.00 | $5,000 |
| 25 mills | 2.50% | $25.00 | $6,250 |
| 30 mills | 3.00% | $30.00 | $7,500 |
| If you have... | To get mills, do this |
|---|---|
| A percent rate (e.g. 1.25%) | Multiply by 10 (= 12.5 mills) |
| Dollars per $1,000 | It already equals mills |
| Dollars per $100 | Multiply by 10 |
| A decimal rate (e.g. 0.0125) | Multiply by 1,000 |
Example and FAQ
Example. A home is valued at $300,000 in a district that assesses at 100% with a $25,000 homestead exemption and a 22 mill rate. Taxable value is $275,000. Annual tax = 275,000 × 22 ÷ 1,000 = $6,050.
What is a mill? One mill is one-thousandth of a dollar, or $1 of tax for every $1,000 of assessed value.
Why is my mill rate different from my effective tax rate? The mill rate applies to assessed value. If your jurisdiction assesses below market value, the effective rate against market value will be lower than mills ÷ 10 suggests.
Do exemptions change the mill rate? No. Exemptions reduce the taxable value before the rate is applied. The mill rate stays the same.
How do I find the mill rate from my tax bill? Divide the tax owed by the assessed value, then multiply by 1,000. Use the "Find mill rate" tab above.
