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ad valorem tax
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ad valorem tax
(Latin)


  a tax based on the assessed value of real estate or personal property
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ad valorem tax ad valorem taxes
Notes:
This Latin expression translates literally as "according to value."  Property ad valorem taxes are the major source of revenues for state and municipal governments. Duties on imported goods are also ad valorem taxes.
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Associated words [difficulty]:   ad valorem tax , ad lib [7] , ad nauseam [7] , ad hoc [8] , ad infinitum [8] , ad hominem [9]
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Most commonly used in these subjects:   Business, Public Policy & Politics, Personal Finance, Law
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