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ad valorem

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

Definition of ad valorem in English:

adverb& adjective

(Of the levying of tax or customs duties) in proportion to the estimated value of the goods or transaction concerned.
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'.

Definition of ad valorem in:

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