rates ra·tes UK/ɹeɪts/ US/ˈreɪts/ fairly common informal uk noun 1. a local tax on property (usually used in the plural) Related words Broader terms tax Narrower terms poor rates WordNet 2.1 (Princeton University). Wiktionary (CC BY-SA). CMU Pronouncing Dictionary. WordNet 2.1 Copyright Princeton University. All rights reserved.