Understanding Millage Rates
Residents often ask what a mill means in relation to property taxes. Here’s a simple explanation to help you understand how your real estate taxes are calculated.
A mill equals 1/1000 of a U.S. dollar, or 0.001 dollars.
To estimate your property tax, use this formula:
Assessed Property Value × 0.001 × Millage Rate = Total Tax Levy
For example, if your assessed property value is $150,000 (not to be confused with market value) and the Township’s millage rate is 8.135, the total annual tax would be:
$150,000 × 0.001 × 8.135 = $1,220.25
If you have questions or need assistance, please contact the Township Tax Collector at:
610-377-8147