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Glossary of Terms > M > Mill Rate

Mill Rate

The rate at which a local government assesses taxes. One mill means a tax of $1 per every $1,000 of assessed value. For example, a mill rate of 15.00 on a home valued at $1,000 would mean $1,500 in property taxes. Sometimes this is called the "millage rate."

M Terms

Mandatory Disclosure

Margin

Maturity

Median Price

Mill Rate

Mixed-Use

Modification

Mortgage

Mortgage Broker

Mortgage Insurance

Mortgage Life / Disability Insurance

Mortgagee

Mortgagor

Multi-family Home

Multiple Listing Service