Tax
Compulsory charges levied by a governmental unit for the purpose of raising revenue.
bond-basics
Ad Valorem Taxes
A tax based on the assessed value of an item, such as real estate or personal property. The most common Ad Valorem Taxes are property Taxes levied on real estate. The Latin phrase ad valorem means “according to value.” All Ad Valorem Taxes are based on the assessed value of the item being taxed.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Extraordinary Measures
Changes to the operations and accounting of funds under the supervision of the U.S. Department of Treasury that allow the federal government to continue paying bills and most operations after the U.S. has reached or neared its debt limit.