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Mississippi Notice of Intent to Increase Ad Valorem Tax  Form

Mississippi Notice of Intent to Increase Ad Valorem Tax Form

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Finance a la shmoop what is an ad valorem tax? want to impress and amaze your friends with your mastery of Latin yeah we had the same thought you need new friends ad [Girl holding Latin book and shows her friends] valorem means ing to value that is an ad valorem tax is a tax based on the value of the asset being assessed..well why is that even a point of contention well you can imagine a tax on gate entry into a public park some people are worth [People cycling in a public park] a lot like you know if Bill Gates just happens to walk in it's worth a lot and [Bill Gates walking in a park] some people are not worth much like Vin Diesel's personal hair stylists those would be not ad valorem taxes they'd just be taxes..sales tax that's ad valorem like the tax for buying a car in California is say 8% buy a new Prius for 35k and you pay about 3k in taxes buy a Maserati that does 185 and [Maserati car zooms past the road] coincidentally it costs 185 and you&

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