Ad Valorem Tax
Municipal property ad valorem taxes are also known as "property taxes".
The phrase ad valorem is Latin for "according to value". In the case of municipal property taxes, property owners have their property assessed on a periodic basis by a public tax assessor. The assessed value of the property is then used to compute an annual tax, which is levied on the owner by his or her municipality. Ad valorem taxes are incurred through ownership of an asset, in contrast to transactional taxes, such as sales taxes, which are incurred only at the time of transaction.
Investment dictionary. Academic. 2012.
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Ad valorem tax — An ad valorem tax (Latin: according to value ) is a tax based on the value of real estate or personal property.An ad valorem tax is typically imposed at the time of a transaction (a sales tax or value added tax (VAT)), but it may be imposed on an … Wikipedia
ad valorem tax — /aed valorem/ According to value. A tax imposed on the value of property. The more common ad valorem tax is that imposed by states, counties, and cities on real estate. Ad valorem taxes, can, however, be imposed upon personal property; e.g., a… … Black's law dictionary
ad valorem tax — n. A tax assessed on the value of property. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008. ad valorem tax A tax that is calculated according to value o … Law dictionary
ad valorem tax — A type of tax calculated based on percentage of gross or stated value. For example, VAT. Bloomberg Financial Dictionary * * * ad valorem tax ad valorem tax ➔ tax1 … Financial and business terms
ad valorem tax — tax which is added according to the worth of an item … English contemporary dictionary
ad valorem tax — a tax levied according to the value of the property, merchandise, etc., being taxed. [1690 1700] * * * ▪ economics any tax imposed on the basis of the monetary value of the taxed item. Literally the term means “according to value.”… … Universalium
ad valorem tax — An *indirect tax whose rate is based on a proportion of the *value of the item taxed. The Latin term ad valorem means in proportion to the value, and ad valorem principles are often used in property taxes and *customs duties … Auditor's dictionary
ad valorem tax — noun a tax levied on the difference between a commodity s price before taxes and its cost of production • Syn: ↑VAT, ↑value added tax • Hypernyms: ↑excise, ↑excise tax * * * a tax levied according to the value of the property, merchandise, etc.,… … Useful english dictionary
ad valorem tax — A tax of a fixed proportion of the value of the property to be charged, an appraisement being a prerequisite to the determination of the amount of the tax. 51 Am J1st Tax §26 … Ballentine's law dictionary
ad valorem tax — noun A tax that is assessed as a proportion of the value of the property being taxed … Wiktionary