A mill is equal to $1.00 of tax for each $1,000 of assessment. To calculate the property tax, multiply the assessment of the property by the mill rate and divide by 1,000. For example, a property with an assessed value of $50,000 located in a municipality with a mill rate of 20 mills would have a property tax bill of $1,000 per year.
The rates for each year are based on the grand list from two years prior. For example, the mill rates for the 2021 fiscal year are based off the 2019 grand list.
Starting in FY 2017, separate mill rates for motor vehicles and real/personal property were used by some municipalities, districts, and boroughs. Related legislation includes:
PA 16-3 S.187 May SS - Increased the cap on motor vehicle mill rate and established the motor vehicle mill rate for certain municipalities, districts, and boroughs that previously set a mill rate for the 2015 assessment year.
PA 17-2 S. 699 June SS - Increased the cap on motor vehicle mill rate and allowed municipalities that previously set the motor vehicle mill rate for the 2016 year to change it.