Definition of 'Mill Levy'
Mill levies are used to fund a variety of public services, such as education, law enforcement, and public works. The amount of tax that is levied on a property is determined by the local government.
Mill levies are a common source of revenue for local governments. However, they can be controversial, as they can increase the cost of owning a home.
There are a few things to keep in mind when considering a mill levy. First, it is important to understand how the mill rate is calculated. Second, it is important to know what the mill levy will be used for. Third, it is important to consider the impact of the mill levy on your property taxes.
If you are considering a mill levy, it is important to do your research and understand the implications before making a decision.
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