fixed rate tax

Definition

A tax that is set at a certain amount and does not vary according to the value of the item being taxed. For example, U.S. consumers pay a federal tax on gasoline at the pump that is levied on a per gallon basis. Compare to Ad Valorem Tax.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
fixed rate fixed term reverse mortgage