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2017 - 2018 Biennial Budget City of Tukwila, Washington <br />equity transfers. Also, operating transfers in are classified separately from revenues. <br />SPECIAL ASSESSMENTS. A compulsory levy made against certain properties to defray all or part of <br />the cost of a specific capital improvement or service deemed to benefit primarily those properties. <br />SPECIAL REVENUE FUND. A fund used to account for the proceeds of specific revenue sources (other <br />than expendable trusts or major capital p jecta) that are legally restricted to expenditure for specified <br />purposes. GAAP only require the use of special revenue funds when legally mandated. <br />TAXES. Compulsory charges levied by a government to finance services performed for the common <br />benefit. This term does not include specific charges made against particular persons or property for <br />current or permanent benefits, such as special assessments. Neither does the term include charges for <br />services rendered only to those paying such charges (e.g., sewer service charges). <br />TAX LEVY ORDINANCE. An ordinance through which taxes are levied. <br />TAX RATE. The amount of tax stated in terms of a unit of the tax base (e.g., specified amount per 81.ODO <br />of assessed valuation of taxable property). <br />TAX RATE LIMIT. The maximum rate at which a government may levy a tax. The limit may apply to <br />taxes raised for a particular purpose or to taxes imposed for all purposeo, and may apply to a single <br />government or to a class of governments operating in a particular area. Overall tax -rate limits usually <br />restrict levies for all purposes and of all govarnnnente, state and |oco|, having jurisdiction in a given area. <br />407 <br />15 <br />