personal property tax (or ad valorem tax)

Definition of "personal property tax (or ad valorem tax)"
  1. A charge levied on personal belongings according to their value
How to use "personal property tax (or ad valorem tax)" in a sentence
  1. Even though his car was old, he still had to pay personal property tax on it.
  2. There was confusion about who would pay the personal property tax on the leased equipment.
  3. Understanding the implications of personal property tax helped them make informed financial decisions.

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