Real Estate Terms Glossary
What is Assessed Value?
In real estate, assessed value is the value put on a property for the purposes of taxes. The Government will come up with an assessed value of your home so that you can pay property taxes. Assessed value is not typically accurate.
The way assessed value is calculated is by looking at comparable homes sales (comps), location data, and inspections in your area. It is not a reflection of the current market, thus typically is lower than the fair market vlue of a property.
To calculate property tax, most use the following equation:
Value x Assessment Ratio x Millage Rate = Effective Property Tax
Assessed Value Examples
Examples where you will find assessed value include:
- Example 1. You will see your assessed value on your property tax bill.
- Example 2. You may see your assessed value online through a Government portal.
Here’s Investopedia’s definition of assessed value .
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
980 projects on CC
CC verified
Meet some of our Real Estate Lawyers
Andrew F.
As an experienced attorney, I have honed my expertise across a broad spectrum of legal areas, providing comprehensive legal services tailored to meet the diverse needs of my clients. My practice encompasses business formation, contract law, privacy law, and other critical facets of the legal landscape. I specialize in drafting and reviewing various agreements, including Short Form Services Agreements, privacy policies, End User License Agreements (EULAs), and terms of service agreements for a wide range of industries. I pride myself on my ability to translate complex legal language into understandable terms, ensuring that all parties have a clear understanding of their rights and obligations. My client relationships are built on direct, transparent communication and a deep understanding of their business needs. My approach is characterized by meticulous attention to detail and a commitment to providing practical, legally sound solutions that protect and advance my clients' interests across multiple areas of law.
"Andrew did a fantastic job and was very quick to get me what I needed"
Jennifer T.
Hello! My name is Jennifer and I practice law in most areas of IP (copyright, trademark, ad tech) with a specialization in entertainment law. I have represented many different content and technology creators, negotiating master service agreements, talent agreements, production agreements, ad agency work, and other IP generalist work.
"Jennifer is just professional and productive. She solved our contract dispute effectively."
Ken S.
Transactional attorney specializing in mergers & acquisitions. Other services include business formation, contract review, and general corporate matters.
"Would recommend to anyone who needs ToS services, and will be my first go for future legal matters as well"
July 5, 2023
Megan W.
My solo attorney law office is focused heavily on Family Law, but I also do residential real estate, and prepare Wills & Trusts.
Adam L.
General practice attorney
July 13, 2023
Keren G.
Keren E. Gesund has extensive litigation expense. She has successfully defended and prosecuted claims against debt collectors, banks, credit reporting agencies, subcontractors, manufacturers and consumers who have suffered harassment or injury. She handles contentious business and commercial cases for both plaintiffs and defendants in state and federal court.
Find the best lawyer for your project
Browse Lawyers Now
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
View Trustpilot ReviewReal Estate lawyers by city
- Atlanta Real Estate Lawyers
- Austin Real Estate Lawyers
- Boston Real Estate Lawyers
- Chicago Real Estate Lawyers
- Dallas Real Estate Lawyers
- Denver Real Estate Lawyers
- Fort Lauderdale Real Estate Lawyers
- Houston Real Estate Lawyers
- Las Vegas Real Estate Lawyers
- Los Angeles Real Estate Lawyers
Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.
View Trustpilot Review
I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.
View Trustpilot Review
I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.
View Trustpilot Review