Dictionary

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...

Tax Certificate

Definition:   a document issued to a person as a receipt for paying the delinquent taxes on real property owned by another, entitling the person to receive either the delinquent taxes...

Taxable Value

Definition:   the assessed value less allowable exemptions resulting in an amount to which the tax rate is applied to determine property taxes due Pronunciation:    \ˈtak-sə-bəl\ \ˈval-(ˌ)yü\ Used in a Sentence:   ...

Taxable Income

Definition:   gross income minus tax deductions; net operating income plus reserve for replacements minus financing costs and allowable depreciation Pronunciation:    \ˈtak-sə-bəl\  \ˈin-ˌkəm\ Used in a Sentence:   Deductions from taxable income...

Tangible Asset

Definition:   anything of substance; personal and real property (e.g. cash, building, equipment, land) Pronunciation:   \ˈtan-jə-bəl\ \ˈa-ˌset\ Used in a Sentence:   A tangible asset can be touched and has actual substance....