What is the mill rate and how do you convert it to a tax amount?

The mill rate is the tax rate used to calculate property taxes, expressed as the amount of tax per 1,000 dollars of assessed value. One mill equals one dollar per 1,000 dollars of assessed value, or one-tenth of one cent per dollar. To calculate the tax, multiply the assessed value by the mill rate and divide by 1,000. For example, a property with an assessed value of 200,000 dollars at a mill rate of 30 yields a tax of 6,000 dollars per year.