ad valorem


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Ad Valorem

According to value.

The term ad valorem is derived from the Latin ad valentiam, meaning "to the value." It is commonly applied to a tax imposed on the value of property. Real property taxes that are imposed by the states, counties, and cities are the most common type of ad valorem taxes. ad valorem taxes can, however, be imposed upon Personal Property. For example, a motor vehicle tax may be imposed upon personal property such as an automobile.

An article of commerce may be subjected to an ad valorem tax in proportion to its value, which is determined by assessment or appraisal.

Duties, taxes on goods imported or brought into this country from a foreign country, are either ad valorem or specific. An ad valorem duty is one in the form of a percentage on the value of the property, unlike a specific duty that is a fixed sum imposed on each article of a class, such as all Swiss wristwatches, regardless of their individual values.

Cross-references

Taxation.

ad valorem

adj. Latin for "based on value," which applies to property taxes based on a percentage of the county's assessment of the property's value. The assessed value is the standard basis for local real property taxes, although some place "caps" (maximums) on the percentage of value (as under Proposition 13 in California) or "parcel taxes" which establish a flat rate per parcel.

ad valorem

adjective according to value, appraised, appraisement, assessable, assessment, charge, chargeable, charged, dutiable, duty, evaluated, excisable, imposition, leviable, levy, ratable, taxation, valorization, value added tax, valued at
Associated concepts: ad valorem tax

ad valorem

‘according to the value’, often used in the context of taxes and duties.

AD VALOREM. According to the value. This Latin term is used in commerce in reference to certain duties, called ad valorem duties, which are levied on commodities at certain rates per centum on their value. See Duties; Imposts; Act of Cong. of March 2, 1799, s. 61 of March 1, 1823 s. 5.

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The section then outlines the debate over the ad valorem fees that most card networks charge merchants for making debit transactions.
The court held that, because Escambia County's proposed bonds might be payable from ad valorem tax revenues, the bonds were "payable from ad valorem taxation" and, thus, triggered the constitutional referendum requirement.
Given the results of previous literature that unit taxation tends to be welfare dominated by equal-revenue ad valorem taxation in noncompetitive environments, the existence of both types of taxes must be explained by nonoptimal behavior on the part of government.
The analysis must generally compare (1) the projected ad valorem tax revenue to be diverted from taxing units as a result of the TIF district, to (2) the projected sales, income and ad valorem tax revenue to be received by taxing units as a result of the TIF district.
Consequently, the impact of an ad valorem tax on the output depends upon the role that labor and capital play in generating revenue in regulated monopoly.
A curious consequence of the dual ownership is that, on the Australian section of the Darley website, you can watch video footage of a four-year-old Ad Valorem carrying the Coolmore silks to beat Godolphin's Proclamation in the Queen Anne Stakes.
Home Affairs was involved in the scrimmaging with Turtle Bowl and Ad Valorem, but was far from disgraced in fourth.
The Ballydoyle handler has seen several of his high profile horses fail when sent across the Irish Sea but Ad Valorem and Jamie Spencer (pictured) made no mistake in the pounds 180,000 feature.
Yet studies of this type have not compared the relative expected efficiencies of the two basic forms in which a Pigouvian commodity tax can be imposed -- specific (the per-unit tax is a fixed amount) and ad valorem (the tax is a percentage of the good's price).
The Rating Outlook is revised to Stable from Negative for the GO and special obligation bonds, and remains Stable for the limited ad valorem tax bonds.