2022 Summer Newsletter

APPRAISAL TERMINOLOGY 101

Ad Valorem Tax — A tax levied in proportion to the value of the thing(s) being taxed. Exclusive of exemp- tions, use-value assessment provisions, and the like, the property tax is an ad valorem tax.

Source: Glossary for Property Appraisal and Assessment.

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Summer 2022 Newsletter of the FCIAAO