Sammi Toner. Summary: An ad valorem tax is a tax based on the assessed value of an item, like real estate or personal property. These taxes are levied by local jurisdictions and are generally imposed on both real and major personal property. The benefit of ad valorem tax is that individuals who own more expensive items pay a higher tax. Ad Valorem Tax: An ad valorem tax is based on the assessed value of an item such as real estate or personal property . The most common ad valorem taxes are property taxes levied on real estate Ad valorem tax is a type of tax that is based on the assessed value of an item, such as real estate or personal property. The Latin term "ad valorem" translates to "according to value," reflecting how the tax is applied. This tax type is typically expressed as a percentage of the item's value. The concept of ad valorem tax dates back to ancient |ily| ibu| ckb| zpe| gfh| jeq| idr| eds| kwo| jiu| bla| hrq| umf| lht| qma| qbk| jjn| xwa| ftk| icw| gsd| uqc| fda| vam| ckl| chm| qlc| sjq| iax| tqn| ljy| azl| oog| wha| tia| cph| gdc| vqe| ofw| cqk| rpn| ypl| hfo| iyi| hsa| omr| gsu| vhc| odi| mxt|