👉 Millage is a legal term used in the United States to describe the cost of property taxes or other taxes levied on real estate. In most states, millage rates are based on the assessed value of the property and can vary depending on factors such as location, age of the building, and the number of units. The amount of millage a homeowner must pay depends on their property's assessment, which is usually calculated by the local tax authority. Millages are typically paid annually or semi-
