Definition of ad valorem adjective from the Oxford Advanced Learner's Dictionary


ad valorem

adjective, adverb
BrE BrE//ˌæd vəˈlɔːrem//
; NAmE NAmE//ˌæd vəˈlɔːrem//
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(of a tax) according to the estimated value of the goods being taxed Word OriginLatin, ‘according to the value’.
See the Oxford Advanced American Dictionary entry: ad valorem