What is another word for ad valorem tax?
Pronunciation: [ˈad vˈalɒɹəm tˈaks] (IPA) 
Ad valorem tax is a term used to describe a tax that is levied on the value of an item. This tax is usually calculated as a percentage of the item's value. There are several synonyms for the term ad valorem tax, including value-added tax, property tax, and sales tax. Value-added tax is a tax that is levied on the difference between the price of a product or service and the cost of producing it. Property tax is a tax that is levied on the value of real estate or other property owned by an individual or business. Sales tax is a tax that is levied on the sale of goods and services.
