Assessed Valuation

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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.

References in periodicals archive ?
For commercial properties, median assessed values rose from $799,065,850 in 2016 to $1.3 million this year, a 67% increase.
A house in Deveaux with a current assessed value of $147,400 would have a land value of anywhere between $589,600 and $884,400.
If your assessed value went up dramatically, that's something you should consider addressing because when your property is sold, the prospective purchaser is going to be looking more closely at the assessed value than the taxable value, because once it's sold, the property can un-cap and shoot up to either that assessed value or some higher number based on the marketplace.
Although the city has maintained the $40,000 average assessed value cap for moderate rehabilitation tax incentives since at least 1993, Kamillatos said HPD had routinely ignored that provision and granted the breaks regardless assessed value.
The district's service area includes Blue River and McAaAeAeA Kenzie Bridg The levy will cost property owners in the district 50 cents per $1,000 of assessed value.
The results of the econometric analysis indicate lack of statistical significance between the assessed value of farmland and farmland quantity in the Moscow region, making the farmland tax rate an ineffective instrument in land policy.
Each year, property tax may vary because it depends upon two factors: 1) the local budget or tax levy, which is likely to increase each year, and 2) the total assessed value of the community, which is the responsibility of the local tax assessor.
Despite the incremental increase in the actual assessed value of real property and its tax levy, the gap between annual real estate taxes levied and collected has widened since 1995 (see Exhibit 3).
They attribute findings to the Florida controls on assessment increases combined with a provision for assessed value increases even if market values are declining if assessed value is less than market value.
The original assessed value for these years ranged between $19,000,000 and $26,522,040.
If the assessed value is $20,000 or less, the filing fee is $10.
It also offers a maximum loan to assessed value of 80 per cent spread over a period of 20 years with a free for life credit card.