Definition, Meaning & Synonyms

tax-hike

Noun

ˈtæks haɪk

Definition

An increase in the rate of taxation imposed by the government.

Examples

The recent tax-hike has caused many citizens to reconsider their spending habits.
After the tax-hike was announced, local businesses feared losing customers due to higher prices.
Opponents of the tax-hike argue that it disproportionately affects low-income families.

Meaning

A tax-hike refers to any situation where the government decides to raise taxes, which can affect individual taxpayers, businesses, and overall economic conditions.