Ad Valorem Definition

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So you've received your property tax bill and guess what, your taxes have increased significantly this period. Your first reaction is probably to wonder what the first thing you have to do is and where you're going to come up with the money. However, did you know that there is a very legal and proper way that you can fight the increase, possibly obtain a reduction (known as an "abatement") and save money?

First and foremost, this is what PVA specializes in. We specialize in property tax management, primarily property tax abatement. However, one thing that I do want to clarify is that we do not lower the tax rate. The valuation companies and the respective municipality that they service determine the tax rates based on a number of key factors and there is nothing frankly that anyone can do about that. However, what we argue is the basis of your realty.

To understand exactly what it is that we do to help you out, you must understand the concept of "ad valorem." The definition in Latin means " at value" which means that the taxes are calculated proportionately to the market value of the property itself. You lower the market value of the property, you in turn lower your taxes. Many states are ad valorem states when it comes to property taxes, which is why this method is proven effective.