ad valorem (According-to-Value) Tax

Context:
- It can range from being a Direct ad valorem Tax to being an Indirect ad valorem Tax.
- It can range from being a Transactional ad valorem Tax to being a Time-based ad valorem Tax (such as real-estate tax).
- It can range from being a Consumption ad valorem Tax to being a Capital ad valorem Tax (such on financial transsactions).
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Example(s):
- a Property Tax, such as a real estate property tax or an automobile property tax.
- an Ad Valorem Tariff Tax.
- a Sales Tax.
- a Value-Added Tax.
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Counter-Example(s):
- a Per Unit Tax, such as a specific duty tax (such as a $10 tax on any imported Swiss watch).
See: Capital Gains Tax, Transactional Tax, Excise Tax, Use Tax, Stamp Duty, Inheritance Tax, Expatriation Tax, Tax Exemption.

References

(Wikipedia, 2016) ⇒ http://wikipedia.org/wiki/ad_valorem_tax Retrieved:2016-3-21.
- An ad valorem tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). An ad valorem tax may also be imposed annually, as in the case of a real or personal property tax, or in connection with another significant event (e.g. inheritance tax, expatriation tax, or tariff). In some countries a stamp duty is imposed as an ad valorem tax.

http://www.investopedia.com/terms/a/advaloremtax.asp
- QUOTE: An ad valorem tax is 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; however, ad valorem taxes may extend to a number of tax applications, such as import duty taxes on goods from abroad. Ad valorem property taxes are typically a major, if not the major, revenue source for both state and municipal governments, and municipal property ad valorem taxes are commonly referred to as simply “property taxes."
  The Latin phrase, ad valorem, means "according to value." In short, all ad valorem taxes are levied based on the determined value of the item being taxed. In the most common application of ad valorem taxes, municipal property taxes, the real estate of property owners is periodically assessed by a public tax assessor to determine its current value. The assessed value of the property is used to compute a tax annually levied on the property owner by a municipality or other government entity.
  Ad valorem taxes, which are based on ownership of a real asset, can be looked at in contrast to transactional taxes, such as sales taxes. While ad valorem taxes are determined and levied annually, transactional taxes are only levied at the time of a transaction.

http://legal-dictionary.thefreedictionary.com/ad+valorem
- QUOTE: The term ad valorem is derived from the Latin ad valentiam, meaning "to the value." It is commonly applied to a tax imposed on the value of property. Real property taxes that are imposed by the states, counties, and cities are the most common type of ad valorem taxes. ad valorem taxes can, however, be imposed upon Personal Property. For example, a motor vehicle tax may be imposed upon personal property such as an automobile. An article of commerce may be subjected to an ad valorem tax in proportion to its value, which is determined by assessment or appraisal.
  Duties, taxes on goods imported or brought into this country from a foreign country, are either ad valorem or specific. An ad valorem duty is one in the form of a percentage on the value of the property, unlike a specific duty that is a fixed sum imposed on each article of a class, such as all Swiss wristwatches, regardless of their individual values.