28/7/17 Tax and Assessment

Tax and Assessment

A tax is a levy on the general population to raise funds that will be spent for the benefit of an entire community <a tax to support highway construction>. An assessment is (1) a special levy just on those who will benefit from the expenditure of those funds <an assessment to pay for curbs and sidewalks in one neighborhood>; or (2) the determination of a tax rate <residential assessments rose 3% last year>.

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