What is LawBrain?
It's a living legal community making laws accessible and interactive. Click Here to get Started »

Assessed Valuation

From lawbrain.com

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.

Contributors

Admin, FindLaw_Crystal