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

Test your knowledge using the equation and check your answer with the calculator..

MLR = T / AV = ?