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valta + -imo; compare the dialectal valtaoja (valta + oja) for a large brook or creek. The lake, after which the town is named, was named such probably because it is what many small streams flow into. The name predates the word valtimo(“artery”) (coined in 1837), which may have received some inspiration from the place name.[1]
The external locative cases (adessive, allative and ablative) are used with this place name when referring to a location; for example, "in Valtimo" is Valtimolla.