A tax assessed and levied by a local authority such as a county or municipality. A local tax is usually collected in the form of property taxes, and is used to fund a wide range of civic services from garbage collection to sewer maintenance. The amount of local taxes may vary widely from one jurisdiction to the next. Also known as municipal tax.. Next Up.
LE BOURGET, France â With the sudden bang of a gavel Saturday night, representatives of 195 nations reached a landmark accord that will, for the first time, commit nearly every country to lowering planet-warming greenhouse gas emissions to help stave off the most drastic effects of climate change.
Quitting the Paris Agreement could have major economic consequences. The United Nations warned that the U.S. would lose jobs in the rapidly-growing clean energy industry â estimated to be worth $6 trillion by 2030 â to Europe, India and China. Countries that tax emissions could put a tariff on American-made imports.