The tax rate is the percentage or factor applied to assessed property values to calculate property taxes. Rates may be expressed as mill rates (dollars per $1,000 of assessment), percentages, or other formulations depending on jurisdiction. Tax rates are calculated by dividing the required tax levy by total taxable assessment. Different property classes (residential, commercial, industrial) may have different rates based on tax ratio policies. Municipal, education, and special levy rates are often stated separately on tax notices. Tax rates alone don't indicate total tax burden—a low rate on high assessments may produce higher taxes than a high rate on low assessments. Comparing rates between municipalities requires understanding assessment practices and service levels.