ad valorem tax

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Ad valorem tax

A type of tax calculated based on percentage of gross or stated value. For example, VAT.

Ad Valorem Tax

A tax calculated as a percentage of the value of an asset. Most property taxes are ad valorem taxes because the property owners owe a given percentage of the market value the property. Value-added taxes are another common example.

ad valorem tax

A tax that is computed as a percentage of the value of specific property. For example, many states levy an annual tax on the market value of an investor's securities as of a certain date. Also called property tax.

ad valorem tax

a TAX which is levied as a percentage of the price or value of a unit of OUTPUT. See VALUE ADDED TAX. Compare SPECIFIC TAX.

ad valorem tax

a TAX that is levied as a percentage of the price of a unit of output. See SPECIFIC TAX, VALUE-ADDED TAX.

ad valorem tax

Literally means “according to the value.”A tax placed upon property and calculated with reference to the value of the property. Ad valorem taxes usually have a super-priority, so that a sale for unpaid taxes will transfer title into the buyer, free and clear of any mortgages or other liens. On the other hand, lienholders are generally given the right to redeem property from tax sales, and regain all rights simply by reimbursing the purchaser for the sale price plus accrued interest.

References in periodicals archive ?
Provisions in the bill would prevent local statutory interest rates applied to unpaid ad valorem taxes from being discounted down to Internal Revenue Code's prime rate.
At trial, the court first determined that the County was legally authorized to assess ad valorem taxes on the improvements; but, the County was not legally authorized to assess ad valorem taxes on the land underlying the Portofino Condominiums.
VII, [section]12 of the Florida Constitution is triggered when a local government issues bonds that not only pledge the ad valorem taxing power, but also pledge any proceeds of ad valorem taxes.
For example, monopoly power affects both the level of an optimal Pigouvian tax [2; 22] and the welfare comparison between revenue-raising specific and ad valorem taxes [32].
Proposition 1, which received more favorable votes than Proposition 2, applies only to the city's ad valorem taxes and water and sewer rate increases, while Proposition 2 pertains to all revenues of the city.
The 'F1+' rating on the cash flow notes reflects both the pledge of unlimited ad valorem taxes, predictable tax revenue streams, and strong cash management practices.
Despite its ability to levy ad valorem taxes in the member jurisdictions, WSSC covers bond debt service from a diverse array of revenue sources: front-foot assessments on properties benefiting from water and sewer system improvements and water and sewer service charges.
About 40% of general fund revenue is derived from ad valorem taxes and about 35% from sales taxes.
Three-quarters of general fund revenue is derived from ad valorem taxes.
In addition, it pledges ad valorem taxes levied on all taxable property within the village without limitation as to rate or amount.
Further assurance to bondholders is provided by the assessment collection process and a rigorous tax lien process; although the drainage taxes are not ad valorem taxes, under Florida law non-ad valorem assessments may be collected in the same manner as ad valorem taxes.
The bonds and COs are secured by a pledge of ad valorem taxes levied annually within the limits prescribed by law against all taxable property.