What is AD VALOREM? Definition of AD VALOREM in Black's Law Dictionary
According to value. Powell v. Gleason; Ariz., 74 P.2d 47, 50, 114 A.L.R. 838.
Duties are either ad valorem or specific; the former when the duty is laid in the form of a percentage on the value of the property ; the latter where it is imposed as a fixed sum on each article of a class without regard to its value. The term ad valorem tax means a tax or duty upon the value of the article or thing subject to taxation. Arthur v. Johnston, 185 S.C. 324, 194 S.E. 151, 154.
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That's the definition of AD VALOREM in Black's Law Dictionary - Courtesy of Cekhukum.com.
