capital levy

American  

noun

1. a tax based on capital, as distinguished from a tax on income.

---

capital levy British  

noun

1. a tax on capital or property as contrasted with a tax on income

---

Etymology

Origin of capital levy

First recorded in 1915–20

Example Sentences

The $28.3 million project was funded through a capital levy approved by Seattle voters in 2019.

From Seattle Times • Sep. 6, 2023

The capital levy would cost 47 cents per $1,000 of assessed value in 2023 and decrease over the next five years, bringing the tax down to 37 cents per $1,000 by 2028.

From Seattle Times • Feb. 8, 2022

Now the school district is asking voters to approve a capital levy that would fund various projects, among them replacing the Memorial Stadium grandstands and keeping the field for sports and community events.

From Seattle Times • Feb. 4, 2022

But it has the biggest property-tax base of any school district, and it has successfully passed every bond and capital levy it has proposed since 1996 — a haul of at least $2 billion.

From Seattle Times • Jul. 13, 2016

In other words, because both lawyer and parson paid income tax, it was fair that the former should escape the capital levy while the latter should have to pay it!

From War-Time Financial Problems by Withers, Hartley