A General Obligation Bond (GO Bond) is a type of municipal bond backed by the full faith and credit of the issuing government, which has the authority to levy taxes to repay bondholders.
The Laffer Curve is an economic theory that illustrates the relationship between tax rates and tax revenue, suggesting that there is an optimal tax rate which maximizes revenue.
Level debt service is a provision in a municipal charter stipulating that payments on municipal debt be approximately equal every year, making it easier to project the amount of tax revenue needed to meet obligations.
Tax Increment Financing (TIF) is a public financing method used by municipalities to subsidize costs for development or redevelopment projects in distressed areas, with the goal of stimulating economic growth and increasing future tax revenues.
Value-Added Tax (VAT) is a consumption tax imposed at each step of the production process, calculated as the difference between the purchase cost of an asset to the taxpayer and its resale price. It is a key source of tax revenue in many European countries.
