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 ?
With market values rising back above assessed values for thousands of property owners, they could see their tax bills rise by more than 3 percent.
Villages have the authority to conduct their own reassessment or use the results of the town's reassessment; in the former case, a property owner could pay tax on two very different assessed values.
Many residents whose market values fell below assessed values enjoyed lower property tax rates in the recession.
The trend actually began a year ago, when market values on 10 percent of Lane County properties dropped below their assessed values.
Given that the Mayor has reported that since 1991 billable assessed values Downtown have eroded by almost one-third, owners will want to measure their properties against that standard, at a minimum, and develop an appropriate tax reduction strategy.
Debt levels are and should remain moderate as additional bonds are offset by a rapidly rising population and assessed values, along with rapid amortization of outstanding debt.
This is the first year we're starting to see a measurable impact of real market values below maximum assessed values for residential property since the peak of the housing bubble in 2008," Assessor Anette Spickard said.
Real property assessed values have reached historic highs in New York City, yet too often they bear lithe relation to a property's underlying fair market value," he says.
Taxable assessed values (TAV) have grown by a strong compound annual average of over 12% since fiscal 2000, including a 16% increase in fiscal 2007 due to equal amounts of reappraisals and new construction.
Assessed values were created by reducing 1995 market value by 10 percent, and then adjusting it by 3 percent a year plus the value of any new changes to the property from that point forward.
Since in recent years there have been few sales of record and these have not warranted substantial increases in assessed values, the Assessor now determines assessed value primarily through capitalization of the prior year's net operating income before debt service, depreciation, and real property taxes.
Taxable assessed values (TAV) have grown by a strong compound annual average of over 11% since fiscal 2000, including a 17% increase in fiscal 2006 due to equal amounts of reappraisals and new construction.