Meaning of the word ratepayer in English

What does ratepayer mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

ratepayer

US /ˈreɪtˌpeɪər/
UK /ˈreɪtˌpeɪər/

Noun

a person who pays local taxes, especially to a local authority

Example:
The new public park was funded by local ratepayers.
The council must consider the interests of all ratepayers.