a local tax on property (usually used in the plural)
"The new school district increased their rates, which means homeowners will see higher annual bills next year."
plural of rate
"The city council voted to raise property rates to fund the new school renovation project."
Taxes, usually on property, levied by local government.
In plain English: Rates are the specific amounts of money charged for services or goods, often calculated based on how much you use them.
"The bank updated its interest rates to reflect the new economic conditions."
Third-person singular simple present indicative form of rate
"The algorithm rates each user's profile based on their recent activity history."
In plain English: To rate means to give something a score or opinion based on how good it is.
"The bank rates your loan application based on your credit score."
Derived from Old French rate (meaning "to pay" or "tax"), the term originally referred to an assessment levied on property or goods. It entered English in the 14th century with this financial sense of a fixed sum demanded as payment for services or privileges.