Examples of tax base in a Sentence
an area with a large tax base
Recent Examples of tax base from the Web
But compared to Jefferson County, the tax base is smaller and there are fewer corporations willing to invest in the rural county's public schools, Superintendent Terry Price said.
The island’s fiscal turnaround plan was counting on the population and tax base stabilizing, not deteriorating.
The danger is that multinationals will move production to offshore tax havens en masse, severely eroding America's corporate tax base, shrinking future revenues, and deepening deficits already on a perilous trajectory.
In 1992, Brown’s sophomore year at Highland Park High, Chrysler’s corporate headquarters decamped to exurban Auburn Hills, a departure that cost Highland Park a quarter of its tax base and 50 percent of its annual budget.
What could bite even harder is a proposal to tack a 20 percent excise tax on transactions between multinationals and their foreign affiliates to deter them from stripping profits out of the United States tax base.
Tax burdens have jumped in the state’s cities, boroughs, and townships since 1990, outpacing gains in the tax base in boroughs and townships and leaving all types of municipalities vulnerable to financial distress, according to the study.
In poorer ones the reverse is true, as more health, education and other needs must be met from a smaller tax base.
Generous tax breaks and other incentives can erode a city’s tax base.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'tax base.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of tax base
Financial Definition of TAX BASE
What It Is
A tax base is the total amount of assets or revenue that a government can tax.
How It Works
For example, let's assume that in Big Town there is $500,000,000 of commercial and residential real estate that is subject to property taxes. If the local school district gets all of its funding from those property taxes, then its tax base is $500,000,000.
Taxes can be based on any kind of asset or revenue stream. For example, to calculate the tax base for a sales tax, you may consider the total spending power of the adults in the community as the tax base. Revenue streams from a gas tax might consider total gas station revenue as the tax base.
Why It Matters
The size and growth (or lack of growth) of the tax base is crucial to the planning efforts of any local, state, or federal government. Because the size of the tax base influences the taxable revenues that are available to a government, there is a direct correlation between the economic condition of a city as a whole and the budget of the government that serves it. Accordingly, governments must always consider how their decisions will affect their tax base.
TAX BASE Defined for English Language Learners
Definition of tax base for English Language Learners
: the amount of money or property that can be taxed within an area
legal Definition of tax base
- change the tax base of a school district to reduce the property tax burden
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