assessed value

Definition

The dollar value of an asset assigned by a public tax assessor for the purposes of taxation.

Use assessed value in a sentence

I wanted to know the assessed value of the asset because I thought it was something I needed to know for the future.

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The assessed value of The homes near the Harry S. Truman boyhood home are incredibly high because the neighborhood is considered historical.

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When looking into refinancing his home Jeremy had found out that during a recent tax assessment the assessed value of his home was less than what it was two years ago, so while his taxes are lower he now owes more than his home is worth.

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