State Grant-in-Aid tests: Understanding mill levy rates, ad valorem taxes, and passing the test You have built your library budget showing ALL sources of revenue and ALL projected expenses.  You have determined the amount of ad valorem tax dollars that the library budget requires.  It is important to be aware of the ad valorem tax’s impact on the library mill levy rate.  The city clerk will be able to tell you from the completed municipal budget worksheet what the mill levy rate will be that generates the ad valorem tax dollars your budget requires, but you need to understand the math behind the numbers.  Many legislators, local government officials and citizens pay close attention to mill levy rates.  Understanding how… Read More »Understanding The Library Mill Levy Rate