What is the amount of tax determined through the use of a mill levy?

A mill levy is a tax rate used to calculate property taxes, expressed in mills per dollar of assessed property value. One mill represents one-tenth of a cent, or $1 for every $1,000 of assessed value. To determine the amount of tax owed, you multiply the assessed value of the property by the mill rate and then divide by 1,000. For example, if a property is assessed at $200,000 and the mill levy is 20 mills, the tax would be $4,000.