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Meaning of AD VALOREM

Pronunciation:  ad vu'lowrum

 
WordNet Dictionary
 
 Definition: 
[adv]  in proportion to the estimated value of the goods taxed; "the goods were taxed ad valorem"
 
 Synonyms: ad val
 

 

 

Webster's 1913 Dictionary
 
 Definition: 
\Ad va*lo"rem\ [L., according to the value.] (Com.)
A term used to denote a duty or charge laid upon goods, at a
certain rate per cent upon their value, as stated in their
invoice, -- in opposition to a specific sum upon a given
quantity or number; as, an ad valorem duty of twenty per
cent.

 

 

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