Static water level or static or water level are synonymous terms and define the distance from ground level down to the level of water in the well — at RESTING STATE.
“Resting-state” means you are not pumping and haven’t pumped recently, and the well has filled back up to its maximum level. If you have pumped, then the water level, of course, is changing as the well fills back up to the static level. (The speed at which it refills – e.g. three gallons per minute – is called your “Recovery Rate”.)
Water Table is the level below which the pores in the soil and rock and saturated with water. The static water level in an individual well can be quite a lot higher or lower than the water table, depending on the shape of rock strata, their relative permeability, and the hydrostatic pressure.