What is the Mill Rate?

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.  

Show All Answers

1. What is a General Obligation Bond?
2. What is the Current City of Las Cruces GO Bond Outstanding Debt?
3. How much bonding capacity does the City of Las Cruces have for GO bonds?
4. How does the City Pay Down the General Obligation Bonds?
5. What is debt service?
6. What is General Obligation Bond Cycling?
7. Will Property Taxes go Down if I Vote No for the General Obligation Bonds?
8. Will Property Taxes Go Up if I Vote Yes for the General Obligation Bonds?
9. Why Are my Property Taxes Going Up?
10. How are Property Taxes Calculated?
11. What is Assessed Value?
12. What is the Mill Rate?
13. Who Determines the Mill Rate?
14. When the mill rate is established, does it get applied only to existing property or to new property?
15. Will there be future GO Bond Elections?
16. Where can I submit a question?