To determine the current millage rates for Allegheny County and your specific locality:
The amount of property taxes that you pay to each taxing body is calculated by multiplying the assessed value of your property by the millage rate set by each taxing body. In practice, a millage rate of 1 (one) mill means that you pay $1.00 (one dollar) in taxes for every $1,000.00 (one thousand dollars) of assessed value. For instance, if your home has a new assessed value of $100,000 and your municipality has set a new millage rate of 5 mills, your property tax bill would be $500.
To calculate your tax bill: First, convert the millage rate to its decimal equivalent to make the multiplication easier. [5 mills X .001 = .005 ] Then, multiply your new assessed value ($100,000) by the decimal equivalent of the millage rate (.005) to determine your tax bill. [$100,000 X .005 = $500]