Using the basic tax equation

TB TR = TL, where TB = tax base,

TR = tax rate, and TL = tax liability, or total yield (TY)

the sum of all tax liabilities and the amount of revenue a government expects to receiveindicate where each of the following concepts best fits:

a. Taxable value

b. Penalties and interest

c. Tax collections

d. Taxes receivable

e. Assessed value

f. Delinquency rate

g. Tax exemption h. Collection rate

i. Income-inelastic yield

j. Overlapping tax base

k. Flat tax

l. Balancing the local government budget

m. Ad valorem taxes

n. In rem taxes