180k views
0 votes
Difference between a tax and a levy

User PRao
by
7.5k points

1 Answer

5 votes

tax

  • A tax rate is the percentage used to determine how much a property taxpayer will pay

levy

  • 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.

hope it helps!

User Simeon Cheeseman
by
7.3k points