Ad valorem is a Latin term meaning "according to value." In tax language, ad valorem means a flexible value dependent on the specific asset. Ad valorem is just one of many important terms related to property taxes you should know. Here are a few more examples of important property tax terms: Assessed value Assessed value refers to the...

Photo by Edar via PixabayProperty taxes in California have been a much-debated issue in the state. Communities want to raise money for schools, community spaces, and infrastructure projects, but lawmakers also don't want to drive away homebuyers and investors, either. The state does have property tax caps to protect owners, but there's a little more to the story...