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Real Estate Glossary

What is the assessed value?

The Assessed Value of a property is an estimate of the property's worth as determined by a government agency, usually a local property tax assessor. The assessed value is used to calculate property taxes and may be different from the market value of the property. Assessed values are typically based on the property's size, condition, location, and comparable sales data from similar properties in the area.

Artur
Real Estate Assistant