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English definition of “assessed value”

assessed value

noun [C or U]
 
 
TAX, PROPERTY the value of a property or of land, that is used to decide how much tax has to be paid on it: The public tax assessor will calculate the assessed value of your home, and this will be the amount on which the property tax is based.
(Definition of assessed value from the Cambridge Business English Dictionary © Cambridge University Press)
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