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What does it mean "ad valorem"?

An ad-valorem tax is a tax based on the assessed value of real estate or personal property.
Ad-valorem taxes can be property tax or even duty on imported items. Property ad-valorem taxes are the major source of revenues for state and municipal governments.

It means "According to the value", so it's a tax which is applied on something based on how much it's worth, so a Value Added Tax is an Ad Velorem tax.

Ad valorem taxes are generally state and local taxes based on the value of an item. The most common one is the tax you pay when you buy or renew your car tags .
A tax imposed on something in accordance with it's value or worth at the time the tax is levied.

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