Transfer Of PropertyTaxesEASY
The Latin phrase 'ad valorem' means:
Correct Answer
A) According to value
Ad valorem means 'according to value.' Property taxes are ad valorem taxes because they are based on the assessed value of the property.
Answer Options
A
According to valueB
Added valueC
ValueD
Property-derived assessment valueAudio Lesson2 min
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Related Topics & Key Terms
Related Topics:
property-assessment-processproperty-tax-calculationspecial-assessments-vs-ad-valorem
Key Terms:
ad valoremproperty taxassessed valuemill rateLatin terminology
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