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 two school districts involved (Fargo & West Fargo), there are two different mill levies. School District #1 (Fargo) basically consists of properties east of I-29; School District #6 (West Fargo) are primarily the properties in Fargo west of I-29.
The current mill levy is 459.04 for School District #1 and 407.81 for School District #6.