The word "millage" refers to the rate at which taxes are assessed per $1,000 of assessed property value. Some synonyms for "millage" include "property tax rate," "levy rate," and "assessment rate." The term "mill rate" is also commonly used to refer to millage. Other similar terms that may be used to refer to property taxes include "property valuation," "property assessment," and "property appraisal." Property taxes are collected by local governments to fund services such as schools, police and fire departments, roads, and other local infrastructure. Understanding the concepts associated with property taxation is important for homeowners and potential home buyers.