One tax point equals what fraction of the net valuation taxable?

The correct measurement of one tax point is defined as a fraction of the net valuation taxable. Specifically, one tax point corresponds to 1/1000 of the net valuation. In many municipalities, a tax point represents a way of quantifying a tax rate, effectively equal to a mill, which is one-thousandth of a dollar.

This concept is essential in municipal finance, as it provides a framework for calculating property taxes based on the assessed value of properties. The tax rate, when expressed in terms of tax points or mills, facilitates easy computation for both municipalities and taxpayers.

The choice indicating 1/10000 would imply a different measurement that does not align with the standard tax point definition. Similarly, other options presenting different fractions do not accurately represent the established convention for a tax point in municipal finance. Understanding this helps clarify how local governments derive revenue through property taxation.