Assessed Value

Definition

  • Local municipalities (cities or towns) will provide an estimated value of your property's worth for tax related purposes. These considerations usually take into effect the condition of your property, surrounding property values and current economic conditions.

Synonyms
estimated value, price tag, cost

Acronyms
ast, AV

Alternate Spellings
assessment

Related Terms and Acronyms

  • Asking Price Definition,
    • The amount of money the seller requests for the property or item.
  • Assessed Value Growth Quotient (AVGQ)Acronym,
    • Assessment Rolls Definition,
      • Lists of taxable property.
    • Assessments Definition,
      • Special and local taxes imposed upon property which benefits from an improvement that has been made in the vicinity.
    • Book Value Definition,
      • A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
      • The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
    • Current Market Value (CMV) Acronym,
      • The estimated price determined by the recent sale of similar properties.
    • Effective Age Definition,
      • An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.
    • Maximum Assessed Value (MAV)Acronym,
      • Property Value Definition,
        • The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
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