Appraisal Value

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Appraisal Value

The value of a property as estimated by a person licensed to do so. The appraised value may take into account the quality of the property, values of surrounding properties, and market conditions in the area. It is important for determining the property taxes for which the owner is liable, as well as a potential sale price if the owner wishes to sell the property.
References in periodicals archive ?
Owner estimates of home values slightly exceeded appraisers opinions in October, although owner expectations moved closer to appraised values than they were in September.
Even though officials are limited by law to paying fair market value, Grecco negotiated or approved prices that exceeded appraised values in 22 deals.
According to the court, the record contained no evidence that any of the comparable properties had been appraised at an amount other than market value, thus it had to assume that the appraised values were at market value.
Focus instead on replacement cost or some measure of "value in use," like appraised values.
Agency relationships may have an effect on appraised values relative to market values (i.
If DHCR sets rents at levels much below current market rents, a co-op's appraised value, as determined for financing purposes, could be lowered dramatically.