HOW IS THE MILL RATE DECIDED?
1st, the assembly decides how much money (revenues) will be needed to run the Borough, by proposing a balanced budget. 2nd, the Assembly decides how much other revenues will be received from other sources like sales taxes, grants, user fees, interest and etc. 3rd, the Assembly does the math: step #1 minus step #2 equals property tax revenue needed. That revenue needed is raised by levying and collecting a property tax. So, to figure the mill rate, the additional amount of money needed for the budget will be divided by the total assessed value of the tax roll.
