local tax

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 ?
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.
Department of the Treasury today issued final rules and additional guidance on the federal income tax treatment of payments made under state and local tax credit programs.
A paid only the proper amount of his 2018 state income taxes, his state and local tax deduction would have been reduced from 89,000 to 87,500.
"My district is in the top 10 in American state and local tax deduction claims.
With Outlooks Stable, the affirmation reflect Fitch's expectation of an improved revenue mix for the state, driven by improving local tax revenue and fees that offset declining statutory allocations.
But in April 2019, when they file their 2018 taxes, they could claim just $10,000 in state and local tax deductions.
The topic was "Converging Megatrends That Drive Tax Reform and How This Can Impact State and Local Tax." The PwC speakers included Oscar Teunissen, strategy leader in the Washington National Tax office; Scott McCandless, a principal in the tax policy services practice of the Washington National Tax office; and Kelly Smith and Barbara Coulter, both state and local tax partners.
The report compares state and local tax rates across all 50 states and the District of Columbia against the national median.
The nationwide analysis released on Wednesday, February 24, entitled Undocumented Immigrants' State and Local Tax Contributions, concluded that the Obama administration's executive actions (including the expansion of Deferred Action for Childhood Arrivals, DACA) would increase state and local tax contributions in California by at least $184 million.
Part I describes the history of the federal state and local tax deduction and the analogous state deduction for local taxes.
2, Karpchuk will present “Hot Topics in State and Local Tax,” at the annual Philadelphia, Local and Multistate Tax Update Conference sponsored by the Pennsylvania Institute of Certified Public Accountants.
Appeals form is available in local tax offices for those who feel that they are taxed more than necessary.