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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
"As such, the term 'assessed valuation' has an unambiguous meaning that is applicable to MNCPPC-owned lands that the town seeks to annex," Hotten wrote.
Based upon those assessed valuations and the terms of PILOT agreements the city has with other colleges, those valuations would yield a PILOT payment value of $2.1 million, using the city's single tax rate of $22.75, according to Mr.
It is important to be aware of the time line local assessors use in establishing the assessed valuation of your real estate.
There are several variables involved in determining property taxes, and assessed valuation is just one of them.
A formal, written real estate appraisal report that was done within three or four years of the official assessment date, and that proves the assessed valuation is excessive, should be submitted to the assessor for consideration in revising the current year's assessed value or the next assessment year's value.
The most commonly-used indicator of community wealth related to education funding is the assessed valuation of individual and business property within the community.
The real reason for most local governments' lower-than-fair-market-value assessment is that if assessed valuation were below fair market value, politicians could never raise property tax rates high enough to result in state confiscation of private property.
Another revenue source is the $2 per $1,000 assessed valuation that homeowners pay annually for new school construction.
The districts argued unsuccessfully that the maximum property tax rate of $1.50 per $100 of assessed valuation operates essentially as a state property tax in violation of the Texas Constitution.
This is no easy admission for the author, who, as a professed admirer of populist reformers, notes in passing that California's initiative law, passed in 1911, is itself "a Progressive Era instrument whereby 'the people' could from time to time check the excesses of a state government." For Schrag, the fall from grace began in earnest with the 1978 passage of Proposition 13, which capped property tax rates at 1 percent of assessed valuation, stipulated that assessed valuation can rise no more than 2 percent annually, and mandated that local special taxes and bond measures need a two-thirds vote to pass.
4) Does a difference exist in superintendents' quality ratings for school districts offering schoolsite health promotion programs by school size, location, accreditation classification, and assessed valuation of the school district?
The library asked to increase the annual property tax levy 29 percent, from 27 cents per $100 of assessed valuation to 35 cents.