adjective relating to a tax or duty imposed based on the value of the item being taxed
adverb in a manner related to the value of the item being taxed
In the field of finance, ad valorem refers to a tax or duty imposed based on the value of an item or transaction.
Ad valorem pricing is a pricing strategy where the price of a product is based on a percentage of its cost.
Ad valorem insurance premiums are based on the value of the insured property or goods.
Ad valorem taxes are levied as a percentage of the assessed value of real estate or personal property.
Ad valorem duties are customs duties calculated as a percentage of the value of imported goods.
In the context of writing about economics or finance, a writer may discuss ad valorem taxes or ad valorem pricing strategies.
A psychologist may encounter the term ad valorem when studying consumer behavior or decision-making processes related to pricing based on value.
An accountant may use ad valorem to refer to taxes or duties that are based on the assessed value of goods or property.
A real estate agent may come across ad valorem taxes when dealing with property transactions and advising clients on tax implications.
Lawyers may encounter ad valorem in the context of legal matters related to taxation, property valuation, or pricing strategies.