Rate
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Rate
Value, measure, or degree; a charge, payment, or price determined through the application of a mathematical formula or based upon a scale or standard.
For example, an interest rate is determined by the ratio between the principal and interest.
Rate is also used synonymously with tax.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
RATE. A public valuation or assessment of every man's estate; or the ascertaining how much tax every one shall pay. Vide Pow. Mortg. Index, h.t.; Harr. Dig. h.t.; 1 Hopk. C. R. 87.
A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.