What is an ad valorem tax?

An ad valorem tax (Latin for "according to value") is a tax based on the value of real estate or personal property.

Also referred to as property tax, the "ad valorem tax" is what an owner of real estate or other property pays on the value of the property being taxed. The Miami-Dade County Property Appraiser is charged with determining the value of all property within the county for tax purposes.

Ad valorem taxes are an important revenue source for a municipality's General Fund Operating Budget.

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1. What is the city’s Adopted Budget?
2. What is a Fiscal Year?
3. What is an ad valorem tax?
4. What does a North Miami Beach property owner pay in taxes?
5. What is a mill?
6. What is the millage rate?
7. How many full-time employees work for the City?
8. For purposes of the City’s budget, what does debt mean?
9. What does debt service mean?
10. What is a fund?
11. What is an Enterprise Fund?
12. What is a Self-Insurance Fund?
13. What is the Capital Improvement Program (CIP)?
14. What is a capital project?
15. What does GAAP and GASB stand for?
16. What is a CAFR?