Definitions from the Web
Millage
Definition:
Millage refers to a unit of measurement used to calculate taxes based on the assessed value of property or vehicles.
Senses:
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Noun - Property Tax Rate:
A millage can represent the property tax rate imposed by the local government on property owners. It is typically expressed as a certain number of mills per dollar of assessed value.
Example sentence: The city council decided to raise the millage by 1 mill, resulting in increased property taxes for residents.
Related Products: Property Tax Guide
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Noun - Vehicle Tax Rate:
In some regions, millage can also refer to the tax rate imposed on vehicles, often based on their assessed value or mileage. This tax is used to fund local road maintenance or public transportation.
Example sentence: The state government implemented a higher millage for luxury cars as part of efforts to support public transportation initiatives.
Related Products: Vehicle Tax Guide
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