Any light source designed specifically to direct light a task or work performed by a person or machine.
Tax
A charge levied upon persons or things by a government.
Tax and insurance escrow
When a mortgage loan is provided to a borrower, the lender establishes a fund called a tax and insurance escrow to accumulate the debtor's monthly payments for property taxes and insurance premiums for the mortgaged property.
Tax assessor
Government official who values real estate property for tax purposes and ascertains the annual property tax assessments that must be collected.
Tax avoidance
Payment of the minimum tax by using legal tax planning opportunities such as estate planning.
Tax base
The collective value of property, income or other taxable activity or assets subject to a tax. Tax revenues are computed as the tax base times the tax rate. For property taxation, the tax base is the total assessed value of all taxable property less exemptions.
Tax basis
The cost basis of property, such as a home owned for tax purposes.
Tax book
Compilation of all tax maps of a given tax district that are bound together and kept at the local tax office. The tax book is a public record that may be accessed by an individual for review upon request.
Tax credit
A reduction against income tax payments that would otherwise be due.
