How do I calculate tax from millage?
Staff Q&A from the 63Hours team.
Ask clear questions about the Florida real estate course and learn from course-specific answers.
How do I calculate tax from millage?
Staff Q&A from the 63Hours team.
One mill is $1 per $1,000 of taxable value. In a simplified example, 18 mills becomes 0.018; multiplied by $200,000 taxable value, that gives $3,600. Use taxable value, not purchase price, and check which taxing authority applies.
References
General educational information. Confirm current requirements with the relevant licensing authority.
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Discussion prompt: Is taxable value supplied?