Definition of ad valorem in English:

ad valorem

Syllabification: ad va·lo·rem
Pronunciation: /ˌad vəˈlôrəm
 
/

adverb & adjective

  • (Of the levying of tax or customs duties) in proportion to the estimated value of the goods or transaction concerned.
    More example sentences
    • Property ad valorem taxes are the major source of revenues for state and municipal governments.
    • The Tax Collector merges the non ad valorem assessments into the certified tax roll.
    • They pointed out that while most minerals had fully ad valorem rates of royalty at present, iron ore, limestone and dolomite had tonnage-based royalty.

Origin

late 17th century: Latin, literally 'according to the value'.

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Word of the day skosh
Pronunciation: skəʊʃ
noun
a small amount; a little