The mill rate is the amount of tax payable per dollar of the assessed value of a property. 1 mill is equal to $1 in property tax levied per $1,000 of the property’s assessed value. Different mill rates are charged by different agencies, including the city, the county, school boards, and the state. These are all combined to help calculate your final property tax bill. The current mill rate is 2.03. The mill rate will not increase with the GO bonds in the current ballot.