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 Glossary   >   A   >   "Ad Valorem Tax" Definition   

        Ad Valorem Tax

A tax based on the assessed value of real estate or personal property. In other words ad valorem taxes can be property tax or even duty on imported items. Property ad valorem taxes are the major source of revenues for state and municipal governments.

Ad Valorem Tax


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Ad Valorem Tax - A tax based on the assessed value of real estate or personal property. In other words ad valorem taxes can be property tax or even duty on imported items. Property ad valorem taxes are the major source of revenues for state and municipal governments.


Ad Valorem Tax : a tax based on the assessed value of real estate or personal property. in other words ad valorem taxes can be property tax or even duty on imported items. property ad valorem taxes are the major source of revenues for state and municipal governments.