Tax cap
Encyclopedia
A tax cap places an upper bound
on the amount of government tax a person might be required to pay. In this case the tax is said to be capped. Tax caps typically affect a commercial property
, or the commercial portion of a mixed commercial/residential property.
Bound
Bound may refer to:*Upper and lower bounds, observed limits of mathematical functions*Terms or bounds, segments of each astrological sign that are said to have different ruling planets*Bound state, in physics*Bounds checking, in computer programming...
on the amount of government tax a person might be required to pay. In this case the tax is said to be capped. Tax caps typically affect a commercial property
Commercial property
The term commercial property refers to buildings or land intended to generate a profit, either from capital gain or rental income.-Definition:...
, or the commercial portion of a mixed commercial/residential property.