Video Dictionary Blog (vlog) by REALTOR® JenKlein - Assessed Value- Jen Klein Roseville Realtor, discusses another real estate term for her video dictionary.
The dollar value assigned to a property for purposes of measuring applicable taxes. Assessed valuation is used to determine the value of a residence for tax purposes and takes comparable home sales and inspections into consideration. It is the price placed on a home by the corresponding government municipality to calculate property taxes. In general, this value tends to be lower than the appraisal fair market value of a property.
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