What is Assessed Value ?
Assessed value refers to the monetary worth assigned to a property by a tax assessor for the purpose of calculating property taxes. This value is typically determined based on various factors such as the property's size, location, condition, and comparable sales in the area. Assessors use this value as a basis for levying property taxes, which are a vital source of revenue for local governments. It's important to note that the assessed value may not always align with the market value or the amount a property could sell for on the open market. Property owners can sometimes appeal the assessed value if they believe it is inaccurate or unfair, often through a formal assessment appeal process.
How to Calculate Assessed Value?
Assessed Value calculator uses Assessed Value = Assessment Market*Market Value to calculate the Assessed Value, The Assessed Value refers to the monetary value assigned to a property by a tax assessor for taxation purposes. Assessed Value is denoted by AV symbol.
How to calculate Assessed Value using this online calculator? To use this online calculator for Assessed Value, enter Assessment Market (AM) & Market Value (MV) and hit the calculate button. Here is how the Assessed Value calculation can be explained with given input values -> 35600 = 4*8900.