Ad valoremAd valo′rem
According to the price charged. Some custom duties vary
according to the different values of the goods imported. Thus, at one
time teas paid duty ad valorem, the high-priced tea paying more
duty than that of a lower price.
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894 More on Ad valorem from Fact Monster:
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