Ad Valorem
A Dictionary of Law · Henry Campbell Black · 1891
A Dictionary of Law
According to value. Duties are either ad valorem or specific; the former when the duty is laid in the form of a percentage on the value of the property; the latter where it is imposed as a fixed sum on each article of a class without regard to its value. The term ad valorem tax is as well defined and fixed as any other used in political economy or legislation, and simply means a tax or duty upon the value of the article or thing subject to taxation, 24 Miss, 501.