Examples of tax base in a Sentence
an area with a large tax base
Recent Examples of tax base from the Web
The measure would also seek to grow the country’s tax base from 4.5% to 10% of the population by lowering the minimum taxable income for both individuals and families.
Because the Trump tax plan eliminated many deductions and loopholes, Indiana's tax base would grow significantly, quietly boosting state revenue by an estimated $348 million over the next three years.
Taking on more debt Scott explained the factors which underline the credit rating are the economy in the area, the tax base of the city, financial position, and the way the city structures its debt; all of which has not changed.
Meanwhile, Colorado has received more than $702 million, with the money going toward grants that help pay schools' capital construction costs, as well as shoring up local and state tax bases.
Buying and building on a new site after demolishing the existing building would cost between $700,000 and $1.2 million, but the governmental purchase of land would mean one less office building on the county tax base.
Brewer also said the long-term solution to Gary's financial problems entail attracting more businesses to locate in the city and to increase Gary's population – both of which would bolster the local tax base.
Before the Power and Light District opened, the city’s tax base was $5 billion with $1 billion from downtown.
Lazenby traced Blaine’s revenue windfall to a sales tax agreement that was put in place in the mid-2000s which allowed states to levy sales taxes based on where a package was delivered, rather than where it was sold.
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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