What are the two most important factors to be considered when determining the tax rate ?
This is a real toughy, so make sure you take your sweet time and think it over real carefully before you scribble your answer down on your scrap paper.
A. The assessed value of the property and the tax millage.
The assessed value of the property represents a percentage of the appraised value of the property as considered by the assessor of property for your county.
When we consider millage, millage is one-tenth of a cent and is the measure used to state the property tax rate.
A tax rate of one mill on the dollar is the same as a rate of one-tenth of one percent of the assessed value of the property.
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