assessed value

  

Definition

Value placed on real estate or personal property by government (or court appointed) assessors for determining ad valorem taxes, or to levy damages on the orders of a court. Assessed value is used rarely as a basis for appraisal value.

Use assessed value in a sentence

  • A real estate agent can give your their expertly assessed value of your property by relying on their professional knowledge of the real estate market.

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  • The assessed value of the item was really high and I wondered if someone actually made a huge mistake somewhere.

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  • Sometimes you may disagree with the assessed value and you might be able to get something for cheaper than it should be.

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