Florida Real Estate Practice Exam

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When something is evaluated according to _____, this is called finding the value on an ad valorem basis.

Its cost to build
Its estimate
Its value
The majority

The correct answer is: Its value

Valuation plays an important role in determining the monetary worth of an object or item. In the context of ad valorem taxes, the value of the object is used to calculate the amount of tax owed. Options A, B, and D are incorrect because they do not specifically refer to the value of the object, which is the key factor in ad valorem taxation. While they may be used in other types of evaluations, they are not directly relevant in this scenario. Therefore, the correct answer is C, as it represents the value for which something will be evaluated for the purpose of ad valorem taxation.