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.
Thus, the Paris pact has built in a series of legally binding requirements that countries ratchet up the stringency of their climate change policies in the future. Countries will be required to reconvene every five years, starting in 2020, with updated plans that would tighten their emissions cuts.