- 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.
cost, price tag, estimated value
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,
- The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
- A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
- 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.