less than 1 minute read

Assessed Valuation

The financial worth assigned to property by taxing authorities that is used as a basis or factor against which the tax rate is applied.

A prescribed amount of the value of each unit must be paid as taxes in the future. In most cases, the assessed value is not representative of the fair market value of the property.

Additional topics

Law Library - American Law and Legal InformationFree Legal Encyclopedia: Approximation of laws to Autopsy