Assessed Value


Assessed Value
The dollar value assigned to a property for purposes of measuring applicable taxes. Assessed valuation is used to determine the value of a residence for tax purposes and takes comparable home sales and inspections into consideration. It is the price placed on a home by the corresponding government municipality to calculate property taxes. In general, this value tends to be lower than the appraisal fair market value of a property.

This valuation occurs annually. It takes into account the overall quality of the property, property values and market conditions of the surrounding areas. Property owners who want to dispute the assessed value placed on their property can request a reassessment, which is a second evaluation of the value of the property. In some locations, property is given an assessed value that is 20% of the property's fair market value.


Investment dictionary. . 2012.

Look at other dictionaries:

  • assessed value — UK US noun [C or U] ► TAX, PROPERTY the value of a property or of land, that is used to decide how much tax has to be paid on it: » The public tax assessor will calculate the assessed value of your home, and this will be the amount on which the… …   Financial and business terms

  • assessed value — The dollar amount a public tax assessor sets in deciding what a piece of property is worth; this figure is used as the basis for calculating how much property tax is owed on the property. Category: Real Estate & Rental Property Nolo’s Plain… …   Law dictionary

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  • assessed value — the value of something as determined by an assessor, esp. the value of real property …   Useful english dictionary

  • assessed value — The value of property as estimated and fixed by the proper authorities for purposes of taxation. Baisden v Greenville, 215 Ala 512, 515, III So 2 …   Ballentine's law dictionary

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  • assessed valuation — Value on each unit of which a prescribed amount must be paid as property taxes. The worth or value of property established by taxing authorities on the basis of which the tax rate is applied. Commonly, however, it does not represent the true or… …   Black's law dictionary

  • assessed valuation — Value on each unit of which a prescribed amount must be paid as property taxes. The worth or value of property established by taxing authorities on the basis of which the tax rate is applied. Commonly, however, it does not represent the true or… …   Black's law dictionary

  • assessed valuation — assessed valuation, the percentage of the total market value of property used by a government as a basis of taxation …   Useful english dictionary