What is the difference between a tax rate and a levy?

Published 04/14/2008 07:30 AM   |    Updated 07/29/2013 11:40 AM

What is the difference between a tax rate and a levy?

A tax rate is the percentage used to determine how much a property taxpayer will pay. A levy represents the total amount of funds a local unit of government may collect on a tax rate. In other words, the levy is a cap on the amount of property tax dollars a local government is allowed by law.

 

For more information, please see http://www.in.gov/dlgf/5078.htm, or call 317.232.9777.

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