The inflated prices of name brand items and goods sold in some neighborhood stores.
ex. The price of items in a convenience store that you would usually get from a grocery store for less,such as, bread,toilet paper,beer,etc....
ex. The price of clothes,shoes,hats and accessories from a smaller neighborhood clothing store that you would get from a urban outfitter in a more retail oriented location for a more reasonable cost.
Sentence: Dont buy that bread out of here yo,you paying double wit that "hood tax".
Sentence: Maaaan,these Nikes got that "hood tax" on em!