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. 2014.

Look at other dictionaries:

  • 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 — 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 — /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 — 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 — A tax based on the assessed value of real estate or personal property. Ad valorem taxes can be property tax or even duty on imported items. Property ad valorem taxes are the major source of revenue for state and municipal governments. Municipal… …   Investment 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 — tax which is added according to the worth of an item …   English contemporary 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

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