The formula to calculate real property tax is: Assessment x millage = tax (face amount). The County millage, for example, is the same for all municipalities, therefore the County Tax for a property with an assessed value of $100,000 and a rate of 4.369 mills would be calculated as follows: 100,000 X .004369 = $436.90 (face amount) Note: 4.369 mills is equivalent to a millage of .004369. This is comparable to expressing percentage as whole number (5%) or as a decimal (.05). In the case of millage, the decimal is moved 3 places to left instead of 2.
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