Rateable (Adjective)
Meaning
Liable to payment of locally assessed property taxes; "the ratable value of property".
Classification
All adjective clusters.
Examples
- The ratable value of the property was determined by the local assessor to calculate the taxes owed.
- As a business owner, she was advised that her commercial property was ratable and would incur annual property taxes.
- The new policy aimed to reduce the ratable burden on low-income families by offering tax exemptions.
- According to local law, only ratable property owners were eligible to vote in the tax levy referendum.
- The ratable value of the building increased significantly after the recent renovation, resulting in higher property taxes.