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A mil levy is primarily used to determine property taxes. It represents the amount of tax per $1,000 of assessed property value, allowing local governments to collect revenue for services such as education, public safety, and infrastructure. The mil levy is calculated by dividing the total amount of revenue needed by the total assessed property value within the jurisdiction.

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2mo ago

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Abbreviation for millions?

Since million is abbreviated mil, you can abbreviate millions as mils. Even though there is an s on the end, most people will know what you are referring to based on the context of the word.


How many mils in one dollar?

There are 1000 mils in one dollar. A mil is a tenth of a cent.


What does 2.7 mil look like in American money?

Well my friend picture stacks an stacks of green paper, then dive in it


Do you have to pay inheritance tax on inheritance?

I think that depends on the tax laws, both federal and your state of residence. If I recall correctly, here in Texas for example, the determination of whether or not an inheritance tax payment is owed, "rides" on the federal criteria. If federal tax is not owed, then Texas does not require it. The last I recall, the determination of federal tax on inheritance was based on the value of the estate, and an estate valued at less than $1.5 million was exempted from payment of federal estate tax, and therefore, Texas estate tax. I also seem to recall, that the $1.5 mil federal exemption was only a "temporary" thing, and is subject to "sunset out" within a couple of years, unless reenacted. Prior to the $1.5 mill exemption, I think the amount was $600,000 per estate. I'm not sure about this, but I think that even though an estate is exempt from "estate taxes," the heirs will have to declare money received on their income tax return(s), and pay INCOME taxes, both federal and state, on that income. Also, the income from any real property, WHEN sold, will have to be declared, and taxes paid on that income.

Related Questions

How is the circular mil area of a round wire determined?

By the diameter of the wire.


What is the highest exp on RuneScape?

I believe it is 200 mil exp in regular skills. Dungeoneering's max exp is not determined yet.


When was Mil etter mil created?

Mil etter mil was created in 1978.


What type of bolt carrier does colt ar15 have in it mil-spec or commercial?

Depends on the model


Are there any adverse effects using a 45 mil epdm liner and chlorinating a pond for swimming?

Yes and No. No huge adverse effects as long as you understand two things. 1.) Even a 45 mil liner is no match for determined plant life to grow through or sharp rocks to penetrate through, so don't just go thick, go proper ground prep. And 2.) Chlorinating a pond is okay as long as there are no fish or other aquatic wildlife.


Which is thicker 4 mil or 6 mil?

6 mil is thicker than 4 mil.


How do you say 2003 in Spanish?

1000 is mil and there are 2 so dos mil and 1 is uno dos mil uno


How much does Robert A Niblock make a year?

From Forbes, for 2007: Robert A Niblock's CompensationVs. Retailing Medians Salary $0.85 mil $1.02 mil Bonus $2.55 mil $1.24 mil Other $0.35 mil $0.73 mil Stock Gains $1.74 mil $0.00 mil Total Compensation $5.50 mil $4.25 mil


What is thicker 5 mil or 1.7 mil?

5 mil


What is thicker 1.7 mil 1.5 mil?

1.7 mil


Which is bigger 20 mil or 29 mil?

29 mil.


Is 1.6 mil thicker than 1.7 mil?

No, 1.6 mil is not thicker than 1.7 mil. In fact, 1.7 mil is thicker than 1.6 mil by 0.1 mil. The term "mil" refers to a thousandth of an inch, so a higher number indicates greater thickness.