Glossary

Ad valorem

An ad valorem tax is a tax based on the assessed value of a property. Property taxes on real estate is generally levied as ad valorem taxes.

Secured property taxes

Secured Real property that includes land and the structures attached directly to it, such as a home or building.

Unsecured property taxes

Unsecured property tax is a value-based (ad-valorem) property tax on movable property that is not attached to a permanent location.