Lay subsidies were taxes levied by the English monarchy. The first subsidy was taken in 1207 and began as a tax on individual wealth. From 1334 the system changed so that settlements were taxed as whole entities rather than individual people. The records of the 1334 subsidy are the most important economic record of the country since the Domesday Survey of 1086. Boroughs were taxed a tenth of their value, while rural settlements were taxed a fifteenth.
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