Examples of tax base in a Sentence
an area with a large tax base
Recent Examples of tax base from the Web
The funds would be divided between the three metro-area counties largely according to their tax base, and the funds would go to local housing authorities to distribute.
Reform will broaden the federal tax base, subjecting more personal income to taxation by eliminating various deductions and exemptions.
MPs wager the bill would expand the tax base to 10% of the population, up from 3%, and raise a modest 300m dinars a year.
Last month, the Jordanian government introduced an income tax bill aimed at widening the tax base, increasing tax brackets and penalizing tax evaders.
Hit by the departure of automotive companies that stunted its tax base, the city has also struggled with maintaining its schools, businesses and infrastructure.
Some opponents said with Crown Point’s growing population, the district should look for money within its expanding tax base.
Despite its shrinking tax base, New York spends nearly twice as much on state and local government per person ($16,000) as does economically booming Tennessee ($9,000).
The council rejected the recommendation, saying that developers should be allowed to build taller projects on the river without those requirements because of the need to develop property there and expand the 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.
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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