Definitions

Mill – A unit of measure for taxation purposes, calculated at a value of .001, or 1/1000^th.

Mill Levy – The mill levy is determined each year by dividing the total amount of dollars needed by each political subdivision (city, county, schools, etc.) from the property tax by the total taxable value of the City of Fargo. This, in effect, ends up being the percentage of taxable value that is levied or assessed in property tax annually. The mill levy is a composite of several entities' tax levying powers. In Fargo, since there are three school districts involved (Fargo, West Fargo & Kindred), there are three different mill levies.

Excess Mill Levy – An exact number of mills allowed to be levied by a vote of the public.  Once known as an “excess levy,” this is the amount allowable beyond the state cap.

General Fund – General fund revenue is derived from property taxes, state funding, federal grant funding, tuition, and other local/county resources.

Taxable Value – Taxable value refers to a percentage of the city assessor's appraisal according to a state-prescribed formula, after exemptions are removed. To calculate annual taxes for a property, the taxable value is multiplied by the mill levy.

Miscellaneous Levy – A levy of no more than 12 mills for miscellaneous purposes and expenses.

Tuition Levy – A levy of no more than the number of mills necessary for the payment of tuition for students.