Enter the total taxes needed ($) and the total assessed value ($) into the Mill Rate Calculator. The calculator will evaluate the Mill Rate.

## Mill Rate Formula

The following two example problems outline the steps and information needed to calculate the Mill Rate.

MLR = T / AV

• Where MLR is the Mill Rate
• T is the total taxes needed ($) • AV is the total assessed value ($)

## How to Calculate Mill Rate?

The following example problems outline how to calculate Mill Rate.

Example Problem #1:

1. First, determine the total taxes needed ($). • The total taxes needed ($) is given as: 3,600.
2. Next, determine the total assessed value ($). • The total assessed value ($) is provided as: 300,000.
3. Finally, calculate the Mill Rate using the equation above:

MLR = T / AV

The values provided above are inserted into the equation below and computed.

MLR = 3,600 / 300,000 = .012

Example Problem #2:

For this problem, the variables required are provided below:

total taxes needed ($) = 4000 total assessed value ($) = 400,000