What is a mill levy and how is it figured?

The mill levy is the tax rate used to calculate the tax bills of individual properties within a tax area or district. Each taxing authority determines how much revenue they require from property taxes and divides that by the total assessed value of the properties within their established boundaries, as supplied by the assessor. The resulting tax rate is multiplied by 1,000 to come up with the mill levy. 

Example: 

             Property Tax Revenue Needed..........$2,500,000.00 

             / Total Assessed Value.................... $31,350,000.00 

             = Tax Rate........................................ 0.079745  

             x 1,000............................................. 1,000 

             = Total Mill Levy................................ 79.745

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1. When are property taxes due?
2. When should I receive my property tax notice?
3. Where do I pay my property taxes?
4. What should I do if don't receive a property tax notice?
5. My mortgage company is supposed to pay my property taxes. Why did I get the tax notice and what should I do with it?
6. Will Broomfield send second half notices?
7. What do my property taxes pay for?
8. I can't afford to pay my property taxes on time. What should I do?
9. How are my property taxes calculated?
10. Who sets the value for my property?
11. What is a mill levy and how is it figured?
12. What can I do to lower my property taxes?
13. Are property taxes paid in arrears?