The millage rate (also known as the tax rate) is a figure applied to the value of your property to calculate your property tax liability. One “mill” equals one dollar of tax on every thousand dollars of taxable value. Your tax dollars are used to fund the cost of your government each year.
There is only one way to correctly calculate the millage– it is simply one number divided by another. When your city, county or school board correctly “does the math,” the cost of government* is equally spread to all property owners based on the value of their property. You pay no more and no less than is required to fully fund the budget.