ad valorem

Definition

A tax, duty, or fee which varies based on the value of the products, services, or property on which it is levied.

Use ad valorem in a sentence

If you are going to be making a major purchase you need to make sure that you can also cover the ad valorem.

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The ad valorem tax was fair considering the value of the good being shipped, we happily paid the tax to ship our item.

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We had an ad valorem tax to worry about and we knew that it would be based on the value o the products from which it was levied.

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fixed rate tax equalization factor