Answer:
$120,000
Explanation:
Data provided in the question
Purchase value of the home eight months ago = $160,000
The assessed value = $120,000
Appraised value = $167,000
By considering the above information, the ad valorem taxes is based on the assessed value i.e $120,000
So, the ad valorem taxes amount is $120,000 as this taxes is always based on the assessed value rather appraisal value or purchase vaue are given
