Assessed valuation


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Assessed valuation

The value assigned to property by a municipality for the purpose of tax assessment. Such an assessed valuation is important to investors in municipal bonds that are backed by property taxes.

Assessed Valuation

The value of a property as determined by an appraisal conducted by a municipality. The assessed valuation usually occurs every year when a municipality asks for appraisal to determine the liability for property taxes. If a property owner wishes to dispute the value of an appraisal, he/she may request a reassessment. The assessed valuation may take into account the quality of the property, values of surrounding properties, and market conditions in the area.
References in periodicals archive ?
Under its initial assessed valuation for fiscal 2012, the annual property taxes on the Palladium were $65,887.
Protesting assessed valuations that are too high is one way owners can keep some control over rising costs.
The 2,332 commercial properties in Worcester have an average assessed valuation of $821,138.
Westside property owners already pay about $18 per $100,000 assessed valuation on a tax approved in 1989 that nine years later was extended until 2026.
Those changes added $2 billion in assessed valuation to the utilities but the other classes ended up paying for it.
The Antelope Valley Union High School District will place a $177 million bond on the June ballot to expand and improve high schools and build two new ones that would annually cost property owners about $30 per $100,000 assessed valuation.
Depending on how fast the assessed valuation in the Westside district grows, the bond amount could range anywhere from $52 million to $75 million, Rossall said.
District officials are considering trying to pass the bond measure under Proposition 39, which would require approval by 55 percent, rather than two-thirds, of the voters and would cap taxes at $30 per $100,000 assessed valuation.