capital levy

American  

noun

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

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capital levy British  

noun

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

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Etymology

Origin of capital levy

First recorded in 1915–20

Example Sentences

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

The dry language of the ballot title for Seattle Public Schools’ capital levy conceals plans for big changes to Seattle Center’s Memorial Stadium.

From Seattle Times • Feb. 4, 2022

One of the big-ticket items the capital levy would fund is upgrades to Memorial Stadium, the Seattle Center facility where many students take part in graduation ceremonies or play football.

From Seattle Times • Jan. 27, 2022

A capital levy would fund construction projects to modernize or replace aging buildings.

From Seattle Times • Apr. 3, 2018

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