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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Infrastructure


Synonyms:local infrastructure
Filed Under: real-estate, taxation
Tags: realty, taxes
 

Definition of infrastructure

infrastructure
1. Basic facilities, services, and installations needed for a community or society to function. Transportation and communication systems, hydro and electric, and public institutions such as schools and hospitals are all examples of infrastructure.

Related Terms and Acronyms:

  • amenities   Amenities are features such as green space, playgrounds, community centres, shopping malls, or swimming pools that make a neighbourhood or community more desirable for living.
  • classified property tax   A local government's levy on real estate that varies depending on the use of the property. Usually, commercial property is taxed more heavily than residential property where a classified property tax exists.
  • cul-de-sac (Cldsc, Culd)   A dead-end street, often with a broad circle at the end.
  • local improvement charge   A fixed annual fee levied by a municipality against specific real property for a specific period which amortizes the capital costs of local improvements such as sewers, paved roads, etc. This charge is in addition to real estate taxes.
  • local taxes   Taxes imposed by local governments (municipalities) to pay for its services. These taxes are in addition to Federal and Provincial taxation.
  • mill rate   A unit of taxation that is a set ratio made by the city or municipality in reference to property taxes.
  • not in my backyard (NIMBY)   Opposition from residents for proposed buildings or structures in a neighbourhood.
  • personal property taxes   Tax paid on real property, intangible, or tangible property. To differentiate between real property and personal property, the tax assessing official must consider the manner in which property is attached to or secured at the location. Also called property taxes.
  • property tax   A levy by a city on real estate and personal property whose amount varies depending on the property's value.
  • tuition insurance   Insurance that covers tuition costs if a student is required to leave school in the middle of a semester.

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