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Property taxes remained a major source of government revenue below the state level. Hard times during the Great Depression led to high delinquency rates and reduced property tax revenues. [68] Also during the 1900s, many jurisdictions began exempting certain property from taxes. Many jurisdictions exempted homes of war veterans.
The town's grand list assesses the taxable value in Trumbull at $5.114 billion, with a 2017 mill rate of 33.39. The cumulative value of Trumbull real estate is $4.615 billion. Infrastructure
In 2005, the mill rate of Fairfield was 16.67. [19] The 2012–2013 taxes in Fairfield rose 4% to a mill rate of 23.37. [ 20 ] The 2013–2014 mill rate which went into effect on July 1 for fiscal year 2013–2014 also increased by 2.38% to 23.93.
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The property tax rate is typically given as a percentage. It may be expressed as a per mil (amount of tax per thousand currency units of property value), which is also known as a millage rate or mill (one-thousandth of a currency unit). To calculate the property tax, the authority multiplies the assessed value by the mill rate and then divides ...
Property taxes are also expressed in terms of mills per dollar assessed (a mill levy, known more widely in the US as a "mill rate"). For instance, with a millage rate of 2.8₥, a house with an assessment of $100,000 would be taxed (2.8 × 100,000) = 280,000₥, or $280.00. The term is often spelled "mil" when used in this context. [5]
Torrington is a former mill ... a massive flood destroyed much of the downtown area and other property in the ... total revenue was $88,444,157: Property Taxes (64.40 ...