collective value of property, income and other taxable activity or assets subject to a tax. Tax revenues are computed at the tax base times the tax rate. For property taxation, the tax base is the total assessed value of all taxable property less exemptions.
total amount of taxable property, assets, and income that can be taxed within a specific jurisdiction. A town's tax base is the assessed value of the homes and apartments (minus exempted property), income from businesses, and other sources of taxable activity. If a business moves out of the town, the tax base shrinks, shifting the tax burden onto remaining homeowners and businesses.
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.
Example: American Widgetworks plans to build a new plant in Centerville. The plant will add $15 million to the property tax base of the city.
