What is a mill?

One mill means one-tenth of a cent in tax for $1 of assessed valuation, but determining what a mill means to your tax bill is a little more complicated.

1 mill = .001

Property market value is assessed at 35 percent by the county auditor . (Property valued at $100,000 has an assessed value of $35,000.) Market value is the estimated sales price a property would likely generate. The assessed value applied to the rates of taxation.

Property tax bills are discounted 10 percent for “rollback”, and can be discounted another 2.5 percent for qualified homestead exemption.

For an idea of how a tax proposal in your neighborhood might affect your annual property tax bill, here is a chart explaining the cost for a house with a $100,000 market value.

Mills	Gross	*Actual	Net After 10% Fed Tax**	Net After 20% Fed Tax**	Net After 30% Fed Tax**
1	35.00	30.63	27.56	24.50	21.44
2	70.00	61.25	55.13	49.00	42.88
3	105.00	91.88	82.69	73.50	64.31
4	140.00	122.50	110.25	98.00	85.75
5	175.00	153.13	137.81	122.50	107.19
6	210.00	183.75	165.38	147.00	128.63
7	245.00	214.38	192.94	171.50	150.06
8	280.00	245.00	220.50	196.00	171.50
9	315.00	275.63	248.06	220.50	192.94
10	350.00	306.25	275.63	245.00	214.38

* Actual cost equals Gross less Homestead/Rollback Exemption

** Itemizing on Schedule "A" & filing IRS Form 1040.

* Please refer to the tax calculator to see the calculation using your own home as the example.