assessed value

noun

1. the value of something as determined by an assessor, especially the value of real property.

Example Sentences

Ciattarelli wants to cap property taxes by linking them to a percentage of a home’s assessed value; Sherrill supports consolidating New Jersey school districts to drive down property taxes.

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More seasoned homeowners expect their property taxes to increase after the first year, after the property’s assessed value is updated to match the recent sale price.

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That’s because mortgage officers typically explain to homeowners how tax payments change over time based on the property’s fully assessed value, said Mike Steele, a mortgage-loan officer in southwest Florida.

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To curb the state’s nation-leading property taxes, he’d cap them at a percentage of a home’s assessed value.

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The Paxtons now own at least 11 residential properties around the U.S. with an assessed value of $7.5 million.

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