Millage and taxable value, explained simply

The simple version

A millage is a property tax rate, expressed in "mills" (dollars of tax per $1,000 of a property's taxable value). Some capital projects are funded this way -- the municipality asks voters to approve a millage, and the resulting tax revenue pays for the project over time.

Terms you'll see

• Taxable value -- the value the tax is actually calculated against (not always the same as market value -- this varies by state and is a real number you'd get from your assessor, not something Capital Command calculates).
• Voter authorization -- many millages legally require a public vote before they can take effect.
• Debt limit -- most municipalities have a legal cap on how much debt they can carry, which can affect what's possible.

Why it matters to your department

Capital Command's millage calculator lets you enter a taxable value and proposed rate to see an illustrative annual revenue estimate and an illustrative per-household impact -- never an actual tax bill, and never assuming your state's specific rules. Millage rules vary significantly by state and even by local jurisdiction.

Who should I talk to?

Your assessor for real taxable-value figures; your finance director/administrator and legal counsel for whether a millage is legally available to you and what voter-approval process applies.

--- *Capital Command is not a financial advisor, underwriter, bond counsel, or lender, and does not determine tax law. Nothing here is a tax determination or legal advice.*