Dictionary

Tax Shelter

Definition:  a term used to describe some tax advantages of owning real property (or other investments); an investment that shields items of income or gain from payment of income taxes...

Tax Rate

Definition:   the percentage of value that is used to determine the amount of tax to be levied against each individual unit of property Pronunciation: Used in a Sentence:   The tax...

Tax Lien

Definition:   a claim against real property arising out of nonpayment of the property taxes Pronunciation:   \ˈlēn, ˈlē-ən\ Used in a Sentence:    The local tax lien for unpaid real property...

Tax District

Definition:   an authority, such as a city, county, school board, or special levy area, with the power to assess property owners annually in order to meet its expenditures for the...

Tax Deed

Definition:    a type of deed used to convey title after real property is sold at auction by public authority  for nonpayment of taxes Pronunciation: Used in a Sentence:   Once...

Tax Clause

Definition:   a provision in a mortgage that requires the borrower to pay all legitimate property taxes Pronunciation:   \ˈklȯz\ Used in a Sentence:    We were required to pay the property...