The term "ad-valorem" is Latin for "according to value."An ad-valorem tax (
Latin: by value) is a
tax based on the value of
real estate or
personal property. An ad-valorem tax is typically imposed at the time of a transaction (a
sales tax or
value-added tax (VAT)), but it may be imposed on an annual basis (real or personal
property tax) or in connection with another significant event (
inheritance tax or
tariffs). A related concept is the fixed-rate tax, in which the tax base is the quantity of something, regardless of its price. For example, in the
United Kingdom, a tax on the sale of alcoholic drinks is calculated on the quantity of alcohol in the drink, rather than its price.
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AD VALOREM. SECONDO IL VALORE
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