Millage equivalent means the number of mills which would result when the total net assessed value added by reassessments is divided by the certified tax digest and the result is multiplied by the previous year's millage rate.
Millage equivalent means the number of mills that would result when the total net assessed value added to or deducted by reassessments of existing real property from the prior tax year’s assessed value is divided by the certified tax digest for the current tax year and the result is multiplied by the prior tax year’s millage rate.
Examples of Millage equivalent in a sentence
Herbst reported on the Millage equivalent lobbying schedule of 2013-2014.