What is a mill levy?

A mill levy, sometimes referred to as a millage rate, is a property tax imposed by a local government in Washington. It is calculated as a dollar amount per $1,000 of assessed value. The mill levy is expressed as a rate of 1 mill being equal to $1 of tax per $1,000 of value. For example, if a home is valued at $200,000, a 1 mill tax rate would be calculated as $200,000 divided by $1,000, which equals 200. So the total tax due on this home at a 1 mill levy would be $200. Mill levies are set by local governments and are used to fund various public services such as public schools, roads and police services. Mill levies are typically expressed as X mills per dollar of assessed value. Property owners are responsible for paying the mill levy in addition to any other taxes due on the property. The mill levy can change from year to year depending on the needs of the local government.

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What is a mill levy?

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