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Old 06-07-2007, 07:43 AM
 
Location: la hacienda
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I found this online about the recent tax valuations:

DHome Blog Archive PROPERTY TAX VALUATIONS EXPLAINED
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Old 06-07-2007, 07:52 AM
 
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Well, I learned a new term....'millage rate'. Need to throw this one around at cocktail parties. Wait, I need to get invited to a cocktail party first :-)

Anyway, this makes sense now as many here have talked about large jumps in the recent assessed values of their homes. It seems that this next tax cut may be doing little more than robbing peter to pay paul. I guess if you fight it, then you can lower your assessed value and still get the benefit of the cut. But it sounds like they want you to work for it.
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Old 06-07-2007, 11:02 AM
 
Location: WA
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Quote:
Originally Posted by socketz View Post
Well, I learned a new term....'millage rate'. Need to throw this one around at cocktail parties. Wait, I need to get invited to a cocktail party first :-)

Anyway, this makes sense now as many here have talked about large jumps in the recent assessed values of their homes. It seems that this next tax cut may be doing little more than robbing peter to pay paul. I guess if you fight it, then you can lower your assessed value and still get the benefit of the cut. But it sounds like they want you to work for it.
Yes, something I had to look up when I moved as the term is used widely in other parts of the country...

mill... one-tenth of one cent as used by some governments in the USA to compute property taxes. The process is called establishing or setting a mill rate or millage rate. The millage rate is the property tax rate stated in terms of tenths of cents in tax per dollar of property value.

For the properties I work with the reduction was a wash. Valuations and changes in various rates resulted in almost no change in actual taxes.
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