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The American Heritage Dictionary of Business Terms » millage rate
millage rate
millage rate definition - business
millage rate
The tax rate expressed in tenths of a cent that is applied to the assessed value of real property. For example, real estate with an assessed valuation of $100,000 in a tax district that levies a 7.5 millage rate results in the owner paying a tax of $750.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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