The term "tax cap" refers to a limit on how much taxes can be raised in a given year. This is typically done through a process called "capping," where the maximum amount of revenue that can be collected from property taxes or other sources is set by law, usually as a percentage increase over the previous year's total. The purpose of this limit is to provide stability and predictability for both taxpayers and local governments, ensuring that tax increases do not exceed a certain threshold without voter approval.