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ad valorem tax

An ad valorem tax is a tax that is calculated as a percentage of the value of something—such as tangible (physical) personal property (goods in a warehouse, office furniture, computer and telephone systems, inventory, etc.).

For example, county tax assessors often place a value on a business's tangible personal property and assess an ad valorem tax on the property.

In Pennsylvania, ad valorem taxes are primarily associated with real estate property taxes, which are calculated based on the assessed value of the property. Counties, municipalities, and school districts levy these taxes for various public services. However, Pennsylvania does not impose a state-level ad valorem tax on tangible personal property for general business assets. This means that goods in a warehouse, office furniture, computer and telephone systems, and inventory are generally not subject to a state ad valorem property tax. Local jurisdictions may have specific provisions, but at the state level, Pennsylvania businesses are not typically assessed an ad valorem tax on their tangible personal property. It's important for businesses to consult with an attorney or a tax advisor to understand any local tax obligations they may have.

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Demystifying Ad Valorem Tax: What You Need to Know

In the confusing world of taxation, one term often whispered with both curiosity and confusion is "ad valorem tax." It's not your everyday tax, and understanding it is essential in today's financial landscape.

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Pennsylvania State Code

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ad valorem tax