- adjective used to describe a tax or commission, e.g., Value Added Tax, that is calculated on the value of the goods or services provided, rather than on their number or size
- Latin for based on value. Real property taxes, as they are based on the value of real property, are an ad valorem tax. An ad valorem tax is levied in proportion to value.
- Per unit of value (i.e., divided by the price).
- phrase a Latin phrase meaning ‘according to value’
- phrase showing that a tax is calculated according to the value of the goods taxed