Allocation of Educational Funding

Taxation can be simply defined as a transfer that individuals and corporate sector units make to the government authorities of a country and these transfers are characteristically compulsory in nature . The modern day governments use taxes so that they can be able fund welfare and public services , such as pensions for the elderly , unemployment benefits , education systems , healthcare systems , energy , water and waste management systems and public transportation (Copeland , 2000

Tax base refers to the appraised value of a set of assets and it also include investments and a stream of income

that is subjected to taxation or simply appraised value of a singular asset that can be subjected to taxation . Hence anything that is subject to taxation has tax base . Tax base can be expressed as an individual asset , like the tax base of a house or a pool of assets like the tax base of city . Therefore the property tax base of a house can be said to be its value in monetary terms just like property tax base of a given city is the given city (Copeland , 2000

It is the role of the government institution in charge of revenue collection to establish the tax base so as to facilitate the process of taxation . A well appraised tax base would mean more revenue collection for the government hence the government will be able to increase its funding to various public sectors like...