What is the tax rate?

• A. The total taxes paid
• B. The amount per $1,000 used to calculate property tax
• C. The market value divided by 100
• D. The assessed value of property

Answer: (B)

The tax rate is the amount per $1,000 of assessed value that is used to calculate property tax. In Florida, you multiply the assessed value by this millage rate (and divide by 1,000) to determine the tax bill. The total taxes paid reflects the result, not the rate itself. Market value isn’t used directly in calculating the tax rate, and the rate isn’t the property’s assessed value—the rate is the per-thousand amount applied to that value.