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Lesson 16
North Carolina's Taxation and Government
19
Civics
10th Grade
02/15/2013

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Term
budget
Definition
list of expenses and revenues.
Term
intergovernmental revenue
Definition
money given to a level of government by another level of government.
Term
corporate income tax
Definition
tax on the profits of businesses.
Term
fines
Definition
monetary punishment, usually for smaller legal infractions.
Term
assessment
Definition
official amount of tax owed, especially property tax.
Term
estate tax
Definition
tax on a person's property after he or she has died.
Term
excise tax
Definition
tax on the purchase of a specific good or service.
Term
disposal fees
Definition
money charged by a local government to dump garbage and waste.
Term
impact fees
Definition
money developers pay to cover costs of the effects of their development on a community.
Term
user fee
Definition
payment for the use of publice service.
Term
licenses
Definition
grant permission for a fee to engage in certain state-sanctioned acts such as hunting or getting married.
Term
property tax
Definition
taxation on the value of property, usually assessed annually.
Term
municipal bonds
Definition
a form of financing in which voters approve the government borrowing money and promising to pay it back when the bond matures.
Term
sales tax
Definition
tax charged on the sale of goods or services.
Term
universities
Definition
institutions of higher learning.
Term
financing state and local government
Definition
raising or providing funds for state and local government.
Term
Public Health
Definition
medical education and treatment for low-income people.
Term
Parks and Recreation Departments
Definition
government agency overseeing parks and public outdoor activities.
Term
permit
Definition
government authorization to perform an action, such as owning a gun.
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