Tag: Assessed Value

Posted on 08/14/2022
Ad valorem tax, millage rates & more: Key terms to know
Ad valorem is a Latin term meaning "according to value." In tax language, ad valorem means a flexible value dependent on the specific asset. Ad valorem is just one of many important terms related to property taxes you should know. Here are a few more examples of important property tax terms: Assessed value Assessed value refers to the...
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Posted on 02/20/2022
Ad valorem tax: What it is & how to calculate it
Latin for "according to value," the term "ad valorem" is common in tax conversations. An ad valorem tax is flexible and dependent on the value of the specific asset, product or service. If you're a property owner, you're paying an ad valorem tax on your property taxes. To better understand how this term is used, here is a...
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