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LSDefine
Simple English definitions for legal terms
fifteenth
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A quick definition of fifteenth:
Term: FIFTEENTH
Definition: A tax that was collected from every person in the kingdom. It was called a fifteenth because it was one-fifteenth of all the personal property that a person owned. The tax was collected by the government at different times and was used to pay for things like wars and other important expenses. However, over time, the amount of the tax did not actually stay at one-fifteenth and was instead set at a specific amount.
A more thorough explanation:
Definition: A tax that was levied on personal property of every subject, which was one-fifteenth of its value. This tax was imposed by the Parliament at intervals.
Example: Under the reign of Edward III, the value of the fifteenth was assessed and fixed at a specific sum. This sum did not increase as the wealth of the kingdom increased. Therefore, the tax ceased to actually be one-fifteenth.
Explanation: The example illustrates that the tax was not actually one-fifteenth of the personal property value, but a fixed sum that was assessed and levied at intervals. This tax was an important source of revenue for the government during the medieval period.