What Is a Mill Levy? The mill levy is a property tax. It is applied to a property based on its assessed value. The rate of the tax is expressed in mills and is equal to one dollar per $1,000 dollars of assessed value. The mill levy is calculated by determining how much revenue each
What Is the Mill Rate? The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on “mills.” It is a figure that represents the amount per $1,000 of the assessed value of the property, which is used to calculate the amount of property tax.
Milton Friedman was a U.S. economist and Nobel laureate known as the most influential advocate of free-market capitalism and monetarism in the 20th century. At the beginning of his career in the 1950s and 1960s, Friedman’s strong advocacy of monetary policy over fiscal policy and free markets over government intervention was considered radical by the
What Is Married Filing Separately? Married filing separately is a tax status for married couples who choose to record their respective incomes, exemptions, and deductions on separate tax returns. The alternative to married filing separately is married filing jointly. Usually, it makes sense financially for married couples to file jointly. However, when one spouse has
What Is a Mutual Fund Subadvisor? A mutual fund subadvisor is a third-party money manager that is hired by a mutual fund company to manage an investment portfolio. Subadvisors are typically sought out by management investment companies because of their expertise in managing a specific strategy. Key Takeaways A mutual fund subadvisor is contracted out
What Is the Miami Stock Exchange (MS4X)? The Miami Stock Exchange (MS4X) is a regional exchange that offers stock, currency, and futures trading from its location of Miami, Florida. The MS4X is a hub of trading services for the G27, which refers to the 27 Latin American and Caribbean Exchanges. The Miami Stock Exchange offers a
What Is the Mumbai Interbank Bid Rate (MIBID)? The term Mumbai Interbank bid rate (MIBID) refers to a synthetic benchmark interest rate used by banks in the Indian interbank market. This is the rate that a bank uses when it wants to borrow funds from another participating institution. The rate is used to set other
What Is the Mumbai Interbank Offered Rate (MIBOR)? The Mumbai Interbank Offer Rate (MIBOR) is one iteration of India’s interbank rate, which is the rate of interest charged by a bank on a short-term loan to another bank. As India’s financial markets have continued to develop, India felt it needed a reference rate for its debt market, which
What Is a Market Identifier Code (MIC)? A market identifier code (MIC) is a four-character code used to identify stock markets and other trading exchanges within global trading and referencing computer systems. The first letter of any MIC is randomly allocated followed by a three-digit alphanumeric code for the market in which a trade takes
Who Is Michael Bloomberg? Michael Bloomberg is a billionaire businessman, publisher, philanthropist, and a former three-term mayor of New York City. The founder and owner of Bloomberg LP, he is one of the wealthiest people in the world, with an estimated net worth of $82 billion as of June 23, 2022, according to Forbes. On Nov. 24, 2019
