A public record of the assessed value of property within a taxing jurisdiction, known as an assessment roll, lists individual tracts of land and their assessed values.
In accounting, an originating timing difference refers to the initial recognition of a difference between the carrying amount of an asset or liability and its tax base that will result in taxable or deductible amounts in future periods.
A Progressive Tax is a tax mechanism where the tax rate increases as the tax base increases. This kind of tax structure aims to distribute the tax burden more equitably based on the taxpayer's ability to pay.
The specified domain on which a tax is levied, such as an individual's income for income tax, the estate of a deceased person for inheritance tax, and the profits of a company for corporation tax.
A tax rate is the percentage at which an individual or corporation is taxed. Tax liability is calculated by applying the appropriate tax rate to the tax base.
A tax roll is a detailed listing and description of all taxable property within a tax district, including assessed values and amounts.
