Assessed Valuation


Also found in: Financial, Encyclopedia.

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 ?
The owners of the Palladium have been successful in getting some relief from the 229 percent increase in the assessed valuation of the downtown entertainment venue.
In fact, the Finance document that discloses the history of the assessed valuation - known as an "AV HS" - already reflects the new reduced assessments, supporting Borin's claim that Finance already has the information it needs to generate new bills.
According to the assessor, the average assessed valuation of single-family homes has dropped 3.
The rates are paid per hundred dollars of billable assessed valuation.
Penalties for missing or defective filings begin with the property being disqualified from having an appeal of the assessed valuation heard before the Tax Commission.