What is a mill rate?

In Connecticut, property tax rates are expressed in Mills, or thousandths of a dollar. A property tax rate of 7.500 mills, .0075 expressed in decimal form, or .75% expressed as a percent of assessed value, results in the payment of $7.50 for each $1,000 of the properties assessed value. The Board of Estimate and Taxation sets the mill rate in May of every year in time for the July tax billing.

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