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Ad valorem is Latin for according to value. Ad Valorem taxes apply to real estate properties. Your town has recently passed a Budget of $79.5
Ad valorem is Latin for "according to value. Ad Valorem taxes apply to real estate properties. Your town has recently passed a Budget of $79.5 million for next year. Total assess values of the all Real Estate properties in the town is $3, 976 million. According to the town, your home has a assessed value of $280,000. This means your ad valorem taxes for the next year are likely to be:
| a. | $ 4,250 | |
| b. | $ 7,250
| |
| c. | $6,985 | |
| d. |
$ 5,599 |
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