local tax

(redirected from Local Taxation)

Local Tax

A tax levied and collected by a state/province and or municipality. Local taxes are collected in order to fund local government services, but they often are also used to pay coupons and principals on municipal bonds. Local taxes sometimes come in the form of income or sales taxes, but the largest example of a local tax is property tax.

local tax

a TAX on property or persons by local authorities/councils which, together with central government grants, is used to finance the provision of various local services. Before 1990, in the UK, rates were levied on eligible properties; between April 1990 (April 1989 in Scotland) and April 1993 a community charge (poll tax) was levied on eligible persons; since April 1993 a council tax has been levied on eligible properties. The current means of raising local taxes, the council tax, is based on the rateable value of local properties, the amount payable in the case of residential dwellings being adjusted to take into account such things as the number of people living in the property, their incomes, and any disabilities they suffer. See UNIFORM BUSINESS RATE.

local tax

a TAX on property or persons by local authorities/councils that, together with central government grants, is used to finance the provision of various local services. Before 1990, in the UK, rates were levied on eligible properties; between April 1990 and April 1993, a ‘community charge’ (‘poll tax’) was levied on eligible persons; since April 1993, a ‘council tax’ has been levied on eligible properties. The current means of raising local taxes, the council tax, is based on the rateable value of local properties, the amount payable in the case of residential dwellings being adjusted to take into account such things as the number of people living in the property their incomes, and any disabilities they suffer. See UNIFORM BUSINESS RATE.
References in periodicals archive ?
Yili has created more jobs for the local community and brought about significant gains in local taxation and economic prosperity.
The revision of the Philippine tax system would not be complete without revisiting as well the landscape of local taxation. With the blurry prospect of transforming our system of government into federalism, which could have reshaped local taxation in the Philippines, I would say, it is now timely to look into the infirmities of the local tax system, where overhauling is now due.
The PILT program provides monetary compensation to local governments throughout Alaska that contain federal lands that are not subject to state or local taxation. This revenue helps local governments provide essential services, such as construction of public schools and roads, firefighting and police protection, and search-and-rescue operations.
As a member of Butler Snow LLP's Business Services and Public Finance Groups, Ashley Wicks focuses on public finance, general corporate transactions, and tax issues such as: public finance tax, state and local taxation, controversy matters, and tax credits.
Harvie said: "Local taxation is our first red line, and if we can make meaningful progress into negotiations beyond that, then making sure Scottish taxpayers' money doesn't end up in the pockets of the arms industry is right at the top of our list.
Local authorities are partially funded by local taxation and therefore qualify for a VAT rebate and, when both services were centralised, the VAT rebate was lost, which they knew long in advance would happen.
Phil London, the chair of the Society's New York, Multistate, and Local Taxation Committee, was also in attendance, representing the NYSSCPA and its TCJA Ad Hoc Committee, established to evaluate all proposed and regulatory initiatives emerging from Albany that address the effects of the TCJA.
He also called for integrating informal work into the economy and improving the profitability of local taxation by giving local authorities new powers in strengthening local democracy and the distribution of power.
Assembling the cars in India is intended to reduce local taxation, which will directly reduce the pricing.
Flintshire councillor Aaron Shotton, Welsh Local Government Association spokesman for finance and resources, said: "The council tax collection rate demonstrates that local councils continue to sympathetically, but efficiently manage local taxation to help deliver the best possible services for their local communities.
Since being admitted to the Pennsylvania bar in 1971, Weintraub has focused his practice upon state and local taxation. From audits through trials and appeals to the appellate courts, Weintraub represents clients in all aspects of state and local tax compliance and litigation.
It was also reported as far back as April 2014 that the Labour leadership was pressing for significant reforms of local taxation.