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

Ad valorem means duties which are graduated according to the value of the taxable goods;

Examples of Ad valorem in a sentence

• Ad valorem property taxes, community association fees, solid waste and governmental fees and utility bills for which service cannot be terminated as of the date of closing shall be prorated as of the date of closing.

• Ad valorem Taxes, property Taxes and similar Taxes paid periodically shall be apportioned to Sellers based on the number of days in the applicable period falling before the day on which the Effective Time occurs and to Buyer based on the number of days falling on and after the day on which the Effective Time occurs.

• Ad valorem property taxes, community association fees, solid waste and governmental fees and utility bills for which service cannot be terminated as of the date of Closing shall be prorated as of the date of Closing.

• Ad valorem taxes and assessments, if any, shall be prorated as of the applicable close of Escrow.

• Ad valorem taxes, if any, shall be prorated as of the Close of Escrow.

More Definitions of Ad valorem

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

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

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 high value cargo carried by Carrier at other than the normal ocean freight rates in Carrier’s tariff or published rates.

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

Ad valorem in respect of Imports shall mean CIF value of imports, as accepted by the Customs on the Bill of Entry.