Legal Definition and Related Resources of Assessed Value Or Valuation:

value or valuation and appraisement of a tax payer’s taxable property by officials of the local government , authorized to assess property. Generally, it is the value as assessed for taxation purposes by municipal or local government, on which valuation, a percentage is to be paid as taxes by the owner of the property. Each jurisdiction constitutionally limits the indebtedness of such municipal or local government, to meet with indebtedness properties may be subject to taxation.

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Assessed Value Or Valuation: in Historical Law

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