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ad valorem tax
(redirected from ad valorem)

    Also found in: Dictionary/thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
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

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.
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This legislation revises the burden of proof in challenges to the value used for ad valorem tax assessments.
CS/CS/HB 521--Ad valorem tax assessment challenges by Florida Bar News
The 24-1 shot - beaten in a $50,000 claiming race at Aqueduct last November - ran as well as the more intensely discussed Europeans ran badly, with Echo Of Light propping up the field and Ad Valorem finishing immediately in front of him.
Horse Racing: Miesque's Approval defies years in Mile; Breeders' Cup ... by The Racing Post (London, England)
That leaves Kinane with the choice of riding Ad Valorem or Ivan Denisovich.
Shorts by The Journal (Newcastle, England)
 
 
 
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