Cereal - Municipal Mill Rate
The 2017 non-residential municipal mill rate in Cereal was 30.2%, increasing 7.55% from 28.1 in 2016. Please note that newer data for this indicator is available, but not for Cereal.
Definition: The Mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills"; as each mill is one-thousandth of a currency unit, one mill is equivalent to one-tenth of a cent or $0.001. Property tax in dollar terms is calculated by multiplying the assessed property value and the mill rate and dividing by 1,000. As a property may be subject to tax by a number of different authorities, mill rates are set by each taxing authority so as to meet the revenue projections in their budgets.
Municipal Mill Rate