Your Millage Rate:
A millage rate, also known as a mill tax, is a way to express property tax rates. One mill represents a tax of $1 for every $1,000 of assessed property value. This means if your property has an assessed value of $200,000 and the millage rate is 10 mills, you would owe $2,000 in property taxes (10 mills * $200,000 / $1,000 = $2,000). This calculator helps you determine the millage rate based on your property's assessed value and the total tax amount levied.
Example: If your property is assessed at $250,000 and the total property tax to be raised is $1,500, the millage rate would be calculated as follows: ($1,500 / $250,000) * 1000 = 6 mills.
function calculateMillageRate() {
var assessedValue = parseFloat(document.getElementById("assessedValue").value);
var taxLevied = parseFloat(document.getElementById("taxLevied").value);
var resultDiv = document.getElementById("result");
if (isNaN(assessedValue) || isNaN(taxLevied) || assessedValue <= 0 || taxLevied < 0) {
resultDiv.innerHTML = "Please enter valid positive numbers for assessed value and a non-negative number for tax levied.";
return;
}
var millageRate = (taxLevied / assessedValue) * 1000;
resultDiv.innerHTML = "
" + millageRate.toFixed(2) + " mills";
}
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