ad valorem Hear it!

ad valorem definition

ad· va·lo·rem (ad′ və lôr′əm)

in proportion to the value: a phrase applied to certain duties and taxes levied on goods, property, etc. as a percentage of their value: abbrev. ad val.

Etymology: L

Webster's New World College Dictionary Copyright © 2009 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.

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