What is the 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.
An individual property's annual property tax is determined by multiplying the taxable value by that year's mill levy. (Move the decimal three places to the left on the mill levy.)
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.
School District #1 (Fargo) basically consists of properties east of I-29. School District #6 (West Fargo) is west of I-29, north of 32nd Ave. S. and west of 45th St., south of 32nd Ave. S. School District #2 (Kindred) contains only a few properties in Fargo south of 100th Ave. S. and west of 45th St.
The current net mill levy with the state funded 12% credit is 286.62 for School District #1, 266.25 for School District #6, and 262.13 for School District #2.