Mil Rate

What Is a Mil Rate?

One mil is one-tenth of a cent ($0.001). Our mil rate of 31.17 would result in a tax of $31.17 per $1,000.00 of assessment for the 2018 Grand List. The total assessed tax value is multiplied by the mil rate. The assessed value is 70% of the value that is determined on the year of the revaluation. The mil rate is generally set after the budget has been passed in the spring. This mil rate applies to the prior October 1 Grand List assessment. View previous mil rates (PDF) for Coventry throughout the years.