tax cap
Levy upper bound
A tax cap is a legal limit on how much a government can collect in taxes, or on how much taxes can increase from year to year.
Property tax caps are common, restricting how much local governments can raise rates or assessments: The state's tax cap limits annual property tax increases to two percent.
Tax caps may also limit total revenue a jurisdiction can collect.
- limitMaximum allowed extent
- ceilingRoom's upper surface
- propertySomething owned or inherent
- assessmentFormal evaluation of worth
- assessed valueTaxable worth determination
exemption · revenue · local government · ballot · ballot measure · proposition · freeze · homestead · levy · millage · override · rollback · threshold · appraisal · relief · referendum · municipal · spending
- property taxesrates, property assessment, property appraisal, assessed value, local rates
- capsceiling, price ceiling, rent ceiling, debt ceiling, debt limit
- property taxassessed value, property assessment, millage, property valuation, county assessor
- local taxesmillage, special assessment, levies, levy, rates