how to calculate property tax mill rate

[DelDeclan]

To calculate property tax with a millage rate, start with your property’s assessed value. One mill equals $1 of tax per $1,000 of assessed value. Multiply the assessed value by the millage rate and divide by 1,000 to get the tax amount. For instance, a $150,000 property with a 20-mill rate would owe $150,000 × 20 ÷ 1,000 = $3,000 in property taxes.