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 ?
Homestead properties have smaller delinquency amounts, whereas properties with higher taxable values, higher statutory tax rates, and properties owned for longer periods have greater delinquency amounts.
Utility property increased to 25 percent of the tax base in the 1990s, but recent legislative changes have reduced the taxable value. As shown in Table 3, all other property, which includes business equipment, has fallen in absolute value and as a proportion of the tax base.
Taxable values have registered gains in the past five years and the fiscal 2016 taxable valuation totals $49.7 billion, up 5.5% from the prior year.
Second, taxable value is a fraction of assessed value.
As Figure 7 shows, Yellowstone County's taxable values fell with the "energy bust" in the late 1980s, but regained the loss by 1994.
Table 1 Taxable Values, Mill Rates, and Taxes Levied Statewide Taxable Value Mill Rate Taxes Fiscal Year ($ Millions) (Average) Levied 1987 2,308 242 559 1988 2,001 265 531 1989 1,943 256 498 1990 1,907 281 535 1991 1,573 327 514 1992 1,595 338 539 1993 1,633 344 561 1994 1,732 353 628 Change: '87 -576 120 69 to '94 Source: Department of Agricultural Economics and Economics, Montana State University, Bozeman, MT.
Though real estate values have declined, the taxable value of property has been divorced from its real market value since voters approved a 1996 initiative.
First, the taxable value of residential and commercial property was rolled back to its value in fiscal year 1975-76.
Rosebud County has the highest taxable value in the state with a mill value of $16.31 per capita.
Increase in taxable value due to additional development