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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Book Value


Synonyms:equity, net cost, worth
Filed Under: financial-banking, insurance, legal-contracts, real-estate
Tags: banking, contract, insurance, legal, realty
 

Definition of book value

book value
1. The value or monetary worth of a property, item, or company as a capital asset based on its cost plus any additions, subtracting depreciation.
2. The current value of an asset based on the asset's original purchase cost less any applicable depreciation, impairment or amortization costs.

Related Terms and Acronyms:

  • appraised value   An educated opinion of how much a property is worth.
  • appreciation   An increase in the value of a property or item.
  • depreciation   The gradual loss of value of a building or other property because of age or natural wear.
  • extended replacement cost   A replacement cost for an asset that exceeds that of the actual cash value of the asset.
  • fair market value (FMV)   The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
  • full market value   In reference to property taxes, usually refers to the tax rate applied to 100 percent of the property's value. Also full cash value.
  • monetary value   A property's monetary value is its worth if sold at this moment in time.
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • resale value   The sales price that would be negotiated by a willing seller and buyer for an existing home or property.
  • sticker price (MSRP, RRP)   This shows the base price, the manufacturer's installed options with the manufacturer's suggested retail price (MSRP), the manufacturer's destination charge and the fuel economy (mileage). It is the Monroney label affixed to the car window and is required by federal law. The label may not be removed by anyone other than the purchaser.

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