One tenth of a cent. Mills are a common term in expressing tax rates per dollar of assessed valuation. For example, a property is taxed at the rate of 80 mills. If a property were assessed at $20,000 and the tax rate was 80 mills, the tax would be $20,000*.08 cents=$1,600.
Popular Real Estate Terms
Outline or diagram of a structure or group of structures used for planning purposes. ...
Also known as adjoining landowners or abutting owners, adjoining owners are property owners whose property touches a common property. The definition of adjoining property owners is those ...
Title that can be made null and void or defeated upon the satisfaction of a claim or the completion of some future contingency. ...
Expenditure paid to occupy property over a specified time period. ...
Pit or cavity built into the basement of a building to avoid or minimize flooding. It allows for the drainage of excess water and moisture. ...
Real annual return on a real estate investment. It equates the initial investment with the present value of future net cash inflows from the investment. The IRR can be determined by using a ...
Act of receiving the rights and privileges of a citizen including property rights. ...
Federal government agency monitoring and regulating corporate financial reporting and disclosure, use of accounting principles, auditing practices, and trading activities. Its regulations ...
Single-family dwelling attached to other units by common walls. ...
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