exactions
Pronunciation: [ɪɡˈzækʃənz]
Word
Context: "financial obligations"
(noun) Exactions are demands for payment or other goods. They often relate to taxes, fees, or other charges that someone must pay.
Example
The government imposed new exactions to fund public projects.
Example
There were no exactions this year, allowing everyone to keep more of their money.
Example
What kinds of exactions do businesses have to pay in our city?
Context: "legal requirements"
(noun) In legal terms, exactions are requirements a government makes of a developer to get permission to build. This could be promises to build parks or sidewalks.
Example
The city asked for various exactions to enhance community services near the new school.
Example
The developer was unhappy because there were no exactions attached to their building permit.
Example
What exactions are required for the new construction project?
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