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ad valorem

Line breaks: ad val|orem
Pronunciation: /ˌad vəˈlɔːrɛm
 
/

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: [as adjective]: ad valorem stamp duty at the rate of 1 per cent is payable
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

Latin, 'according to the value'.

Words that rhyme with ad valorem

brainstem

Definition of ad valorem in:

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