What is a mill levy?

A mill levy is a specific type of property tax used in Pennsylvania. It is a special tax that is assessed on real estate and other types of property. The mill levy is expressed as a rate, which is calculated by multiplying a mill rate times the assessed value of the property. The mill rate is a set amount of tax for every $1,000 of the assessed value of the property. The mill levy tax rate is set at the local level and is typically used to fund education, libraries, parks, and other local services. The mill levy rate is decided by local governments, such as school boards or county officials, who authorize the levy and determine the amount of tax. The mill levy rate is not the same in every local area. The amount of the mill levy tax that a property owner pays is based on the assessed value of the property, which is determined by the local assessor’s office. The assessed value is the fair market value of the property, which is the estimated price it would sell for. The mill levy tax is then calculated by multiplying the mill rate by the assessed value of the property. The mill levy tax rate can change from year to year in order to meet the needs of the local government.

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What is a mill levy?

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