A PRIORI ABANDONMENT ABATEMENT ABSENTEE LANDLORD ABSORPTION RATE ABSTRACT OF TITLE ABSTRACTION METHOD  ACCELERATION CLAUSE ACCELERATED DEPRECIATION ACCEPTANCE ACCESSORY BUILDING ACCRETION ACCRUED INTEREST ACQUISITION ACRE ADJUSTED COST BASE ADMINISTRATOR AD VALOREM ADEQUATE PUBLIC FACILITIES ORDINANCE ADDITIONAL PRINCIPAL PAYMENT AMERICAN SOCIETY OF APPRAISERS  ANNUAL PERCENTAGE RATE (APR)

Ad Valorem :

Ad Valorem  is a tax based on the assessed value of real estate or personal property. In other words, 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.

The phrase ad valorem is Latin for "according to value". In the case of municipal property taxes, property owners have their property assessed on a periodic basis by a public tax assessor. The assessed value of the property is then used to compute an annual tax, which is levied on the owner by his or her municipality. Ad valorem taxes such as this are incurred through ownership of an asset, and contrast to transactional taxes such as sales taxes, which are incurred only at the time of transaction.

Real Estate and Mortgage Terms

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