The Grand Levy is the amount of revenue in the Annual Town Budget, which must be raised by the property tax. The remaining balance is received from fees, state and federal assistance and miscellaneous revenue. The Grand List is a listing of all taxable properties located within the Town on October 1, of the grand list year. The property tax rate is expressed in mills or thousandths of a dollar. Example: A tax rate (mill rate) of 35.42 mills (Trumbull’s current mill rate), or .03542 expressed in decimal form, is equivalent to $35.42 of taxes per $1,000 of assessed value. The tax rate is determined by dividing the Grand Levy by the Grand List.