ad valorem tax
any tax imposed on the basis of the monetary value of the taxed item. Literally the term means "according to value." Traditionally, most customs and excises had "specific" rates; the tax base was defined in terms of physical units such as gallons, pounds, or individual items
Learn more about ad valorem tax with a free trial on Britannica.com.
| a chattering or flighty, light-headed person. |
| an extraordinary or unusual thing, person, or event; an exceptional example or instance. |