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
Arbitrage Bonds
Tax-exempt bonds violating yield restrictions imposed by Section 148 of the Internal Revenue Code (IRC) and Treasury Regulations promulgated thereunder.