What is a millage rate?

The millage rate is the ad valorem property tax rate levied per $1,000 of a property's taxable value. The rate is expressed in mills, which is equal to 0.1% of the taxable value. Each taxing authority adopts a millage rate each year that appears on the property tax bill. To calculate the tax levy using a given millage rate, the formula is:

Taxable Value/1,000 X Millage Rate = $ Ad Valorem Tax

For example, a Wellington property with an assessed value of $350,000 and exemptions of $50,000 has a taxable value of $300,000. The ad valorem property tax for Wellington would then be:

$300,000/1,000 X 2.48 Mills = $744

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1. What is a millage rate?
2. Why do I see Wellington Solid Waste and Solid Waste Authority of Palm Beach County on my bill?
3. What is the Acme Improvement District that appears on my tax bill?
4. How is my taxable value calculated?