For Ad Valorem Tax?

An ad valorem tax is a tax based on the assessed value of an item, such as real estate or personal property. The most common ad valorem taxes are property taxes levied on real estate. The Latin phrase ad valorem means "according to value." So all ad valorem taxes are based on the assessed value of the item being taxed.

What is ad valorem tax used for?

Ad valorem is a Latin term meaning, “according to value”. This phrase is used in reference to the method of levying duties (i.e. tax) on a transaction or property, which is payable based proportionally on the value of the transaction or property, rather than on its quantity.

What is ad valorem tax in GA?

Title Ad Valorem Tax (TAVT)

Currently, TAVT is 6.6%* of the retail value, assessed value established by the Georgia Department of Revenue, or "clean retail" value shown by the NADA. Vehicles subject to TAVT are exempt from sales tax. *TAVT rates are set by the Georgia Department of Revenue.