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Old 07-11-2008, 07:51 AM
 
Location: Forests of Maine
30,677 posts, read 49,423,020 times
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Quote:
Originally Posted by nancy thereader View Post
Has anyone found a site that compares property tax mill rates?

Here is a dumb question from someone who has paid property taxes for over thirty years:

What is a mill tax???
All private property is assessed at some value.

Then it's assessed value is multiplies against a 'mill rate' to derive your property taxes.

Some area, then also add onto that tax a separate 'school tax', or 'road tax', or blah blah blah.

In this area we only have the 'property tax', and no additional taxes.



If your home is assessed at $100k, and your Mill Rate is 0.001; then your annual taxes would be: $100

If your home is assessed at $100k, and your Mill Rate is 0.002; then your annual taxes would be: $200



In the case of my community [forest land alongside a river] your land could be assessed at $100 per acre. So 40 acres might be assessed at $4,000. A Mill Rate of 0.00842 produces an annual tax bill of $33.68
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Old 07-11-2008, 07:56 AM
 
Location: Forests of Maine
30,677 posts, read 49,423,020 times
Reputation: 19129
In one case sited above:

Quote:
City .007479
School .01199643
County .00232814
College .000804
Hospital .00254

Totaling 0.02514757
A $100k home, taxed at 0.025 could be billed: $2,500
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Old 07-11-2008, 10:01 AM
 
Location: WA
5,393 posts, read 21,385,099 times
Reputation: 5884
The tax per dollar of assessed value of property. The rate is expressed in "mills", where one mill is one-tenth of a cent ($0.001).
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Old 07-11-2008, 10:37 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,537 posts, read 39,914,033 times
Reputation: 23643
Quote:
Originally Posted by nancy thereader View Post
Has anyone found a site that compares property tax mill rates?
...
I have seen some county and even state listings that indicate the "range" of mill rates, and when I am interested I get the data sheet from the particular county which lists rates for specific areas within the county. Hopefully they will be nice to give you a clue where the dividing lines are, but... often they are by 'legal descriptions' (usually =Township, Range, Section) not by address. It can be best to get the list defined by school district, as that is often the largest variation. Because school, fire, hospital and utility districts borders are defined by streets, it is not uncommon to find wide variations of Mill Rates in close proximity. Of the last homes I built, the one on the north side of the street was mill rate $0.147 or $1470 per $100.000 of value; the one on the south side was mill rate $.081 or $810 per $100,000 of value. (the difference was in the local ELEMENTARY school district, they both went to same SAME Middle and High school, but the rates were defined by the particular primary or elementary school)

first get a clue of the range of mill rates from a county, if they vary a lot, then search for homes in the more affordable areas, if they are acceptable to your standards of living. Remarkably, high Mill rates Do Not equal best service locations, our local school has very high mill rates, but is one of the lowest academically ranked in the county (many families homeschool as a result, which consequentially drives down the funding to the school (by $6600/ student), and thus they feel they have to raise taxes...). Same situation with our fire district (its a good idea to have fire suppression sprinklers in your home in rural areas which are far from an unmanned volunteer station, when the volunteers are working 20 miles from the station... not like the days when volunteers were farmers or contractors and working and living near the station).
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