Ad valorem definition

Ad valorem is the Latin word that means ‘on the value.’ When the duty is levied as a fixed percentage of the value of the traded commodity, it is called as valorem tariff. Such duties are levied on the products the value of which is disproportionately higher compared to their physical characteristics such as weight or measurement. Eg: 15% tariff levied by Japan on U.S. automobiles.

Ad valorem means the tariff was calculated as a percentage of the value of the import.

Ad valorem means a tax charged by some States in proportion to the estimated value of the vehicle

Examples of Ad valorem in a sentence

• Ad valorem taxes receivable are not accrued as revenue because the amount is not susceptible to accrual.

• Ad valorem property taxes are levied by the governing authority of the county on behalf of the school district based upon an order adopted by the school board of the school district requesting an ad valorem tax effort in dollars.

• Ad valorem property taxes are levied by the governing authority of the city on behalf of the school district based upon an order adopted by the school board of the school district requesting an ad valorem tax effort in dollars.

• Ad valorem taxes receivable are not accrued as a revenue because the amount is not susceptible to accrual.

• Ad valorem property taxes excluded by the tax increment financing plan of the authority from the determination of the amount of tax increment revenues to be transmitted to the authority or specific local taxes attributable to such ad valorem property taxes.

More Definitions of Ad valorem

Ad valorem means according to value. The ad valorem tax on a property is computed by multiplying a tax rate by the property’s value.

Ad valorem means “according to value” and, thus, an ad valorem tax on property is a tax assessed which is proportional to the property’s value. Black’s Law Dictionary 59 (8th ed.).taxation, the “economic reality” test of Marple Springfield I is the proper test to use to establish the fair market value of property encumbered by a long-term lease. Appellant concedes that buildings are included in the definition of “real estate” contained in Section 201(a) of the General County Assessment Law, but it also argues that the term “real estate” under this statute includes only “ground rents,”21 but not leasehold payments. Citing to our Court’s decision in the case of Independent Oil and Gas Ass’nv. Bd. of Prop. Assessment Appeals of Fayette County, 572 Pa. 240, 814 A.2d 180 (2002), discussed at greater length herein, Appellant posits that, because leasehold interests have been excluded from the enumerated subjects of taxation in Section 201(a), all leasehold interests are not subject to real estate taxation. Appellant propounds that our Court, in recognition of the fact that only the owner’s interest in the leased fee may be taxed, developed the “economic reality” test of Marple Springfield I.Appellant, quoting at length from Judge McGinley’s dissent below, contends that application of this test is necessary to recognize the economic realities that exist whenever a long-term lease, entered into in an arm’s-length transaction, encumbers a property. These realities are that the maximum value which can be achieved in any sale of such an encumbered property is diminished by the fact that the purchaser is restricted to receiving only the value of the lease payments and the reversionary interest. Appellant maintains that, because its expert properly used this “economic

Ad valorem means a tax imposed at the rate equal to a percentage of value.

Ad valorem means “proportional to the value of the thing taxed.” Black’s Law Dictionary

Ad valorem means according to value;

Ad valorem means according to value. Such rates are charged on the declared value of commodities which are light in weight, compact in bulk and high in value. If the value of a commodity is very high, the carrier may charge a very high rate by adding the ad- valorem rate to the general rate.

Ad valorem in respect of exports shall mean FOB value of exports, as accepted by the Customs on the Shipping Bill.