| A | B |
|---|
| budget | an estimate of future revenue and expenses |
| operating budget | a budget for day to day spending needs |
| capital budget | a budget for spending on major investments |
| balanced budget | a budget in which revenue and spending are equal |
| tax exempt | not subject to taxes |
| real property | land and any permanent structure on the land to which a person has legal title |
| personal property | movable possessions or assets |
| tax assessor | an official who determines the value of property |
