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mil definition - finance
A tenth of a cent ($0.001). Typically a mil is a unit of measurement used by cities to assess taxes on property, such as real estate or cars. The mil is multiplied by an assetÂ’s assessed valuation to arrive at the amount of tax that must be paid.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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