Definition

1. Adverb:
   • In proportion to the estimated value: This term is used to describe a tax, duty, or fee that is calculated as a percentage of the assessed value of the item being taxed. It is most commonly seen in its full Latin form, "ad valorem."

Usage

The term ad val is an abbreviation. It is primarily used in legal, financial, and trade contexts. It modifies verbs related to taxation and valuation. - It describes how a tax is levied or calculated. - It is typically used before the noun it modifies (e.g., ad val duty) or in the phrase "taxed ad val."

Examples

• The imported artwork was subject to an ad val duty of 10%.
• These goods are taxed ad valorem, meaning the fee increases with their declared value.
• The contract specified an ad val stamp duty based on the property's sale price.

Advanced Usage

• "ad valorem tax": A tax levied on the value of property or goods. This is the most common full phrase.
  • Property tax is a classic example of an ad valorem tax.
• In legal documents, the full Latin phrase "ad valorem" is often preferred for clarity and formality.

Variants and Related Words

• Ad valorem (adv., adj.): The full Latin phrase meaning "according to value." This is the standard form.
  • The ad valorem rate applies here.
• Value-added tax (VAT): A related concept, but it is a tax on the in value of a product at each stage of production, not directly synonymous with .

Synonyms

• Proportionally: In a way that corresponds in size or amount to something else.
• According to value: Based on the assessed worth.

Notes

• ad val is an abbreviation. In most writing, especially formal contexts, the full term ad valorem is used.
• It is almost exclusively used as a modifier for types of taxes, duties, or fees (e.g., , ).

Adverb

1. in proportion to the estimated value of the goods taxed
   • the goods were taxed ad valorem