"According to the value" A method of taxation using the value of the thing taxed to determine the amount of tax Taxes can be either "Ad Valorem" or "Specific"
According to value " A method of taxation using the value of the thing taxed to determine the amount of tax Taxes can be either "Ad Valorem" or "Specific " Example: A tax of $5 00 per $1000 00 of value per house is "Ad Valorom," A tax of S5 00 per house (irrespective of value) is "Specific "
Ad valorem is usually applied to a (according to value) customs duty charged upon the value only of goods that are dutiable, irrespective of quality, weight, or other considerations The ad valorem rates of duty are expressed in percentages of the value of the goods, usually ascertained from the invoice
According to value This is a tax imposed on the value of property (references a general property tax), which is typically based on the local government's valuation of the property
Latin for "according to the value " (1) An ad valorem duty is an import duty based on the value of an article as defined in the customs law of a particular country, rather than on weight or volume A percentage of that value is charged, for example, 5% ad valorem (2) A freight rate set at a certain percentage of the value of an article is known as an ad valorem rate
A term used to denote a duty or charge laid upon goods, at a certain rate per cent upon their value, as stated in their invoice, in opposition to a specific sum upon a given quantity or number; as, an ad valorem duty of twenty per cent