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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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26% - Moderately

Assessed Value


Synonyms:cost, estimated value, price tag
Acronyms &
abbreviations:
AV, ast
Filed Under: abbreviation, mortgages, real-estate, taxation
Tags: classifieds, property listing, realty
 

Definition of assessed value (AV, ast)

assessed value (AV, ast)
1. Local municipalities (cities or towns) will provide an estimated value of your property's worth for tax related purposes. These considerations usually take into effect the condition of your property, surrounding property values and current economic conditions.

Related Terms and Acronyms:

  • asking price   The amount of money the seller requests for the property or item.
  • assessed value growth quotient (AVGQ)
  • assessment rolls   Lists of taxable property.
  • assessments   Special and local taxes imposed upon property which benefits from an improvement that has been made in the vicinity.
  • book value   The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
  • current market value (CMV)   The estimated price determined by the recent sale of similar properties.
  • effective age   An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.
  • maximum assessed value (MAV)
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.

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