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Business Definition for: ad valorem tax
ad valorem tax
levy imposed on the value of property. The most common ad valorem tax is that imposed by states, counties, and cities on real estate. Ad valorem taxes can, however, be imposed on personal property.
ad valorem tax
a tax based on the value of the thing being taxed. Cities, counties, and school districts raise most of their tax revenue from ad valorem taxes on real estate
Example: If the ad valorem tax rate is 1%, the tax would be $1 per $100 of assessed value.
Copyright © 2005, 2000, 1995, 1987 by Barron's Educational Series, Inc., Reprinted by arrangement with Publisher.
Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
