Tax Rate: Express a tax rate of 42 mills on $1.00 as a rate on $1000.00

[KWF]

Does "on" as it is used below have the meaning of per?

Express a tax rate of 42 mills on $1.00 as a rate on $1000.00

Would it indicate the following: ...42 mills per $1.00 and ... as a rate per $1000.00?

 

[tkhunny]

I think you have it. It seems to me that "on" would be used to make it more relatable. We often hear news reports about millage rates changing, but the news agencies think we cannot understand what the rate change means. Thus, they tend to report the additional information, "For a home owner with a house worth $100,000, that's an increase of ..." Just another way to make things more relatable.

 

[KWF]

I think you have it. It seems to me that "on" would be used to make it more relatable. We often hear news reports about millage rates changing, but the news agencies think we cannot understand what the rate change means. Thus, they tend to report the additional information, "For a home owner with a house worth $100,000, that's an increase of ..." Just another way to make things more relatable.

I want to thank you for the reply:

The word "per" makes it easier for me to determine the answer. Since the forward slash would indicate "per," I would interpret 42 mills on or per $1.00 as 42 mills/$1.00 and likewise the tax rate on or per $1000 would be 42000 mills/$1000. Mills are usually converted to dollars so if my arithmetic is correct, 42000 mills would equal $42.00 per $1000 or $42.00/$1000.

I hope this explanation is correct.