ad va·lo·rem /'ad-və-'lōr-əm, 'äd-vä-'lō-rem/ adj [Latin, according to the value]: imposed at a rate based on a percent of value
an ad valorem tax on real estate
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.