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Tax base refers to the total value of all the properties in a certain area that are used to calculate taxes.
For example, let's say a city has 100 homes in it, and the total value of those homes is $10 million. That $10 million is the tax base, and it's used to determine how much money the city can collect in property taxes.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Oh, the tax base, the tax base,
It's the value of every place!
Homes big and small, make up the pie,
Determining how much tax we'll buy.
Find the total value, minus exemptions small,
And what's left is the tax base for all.
It's what we use to calculate tax,
To keep our community on track!