Property Value
/ˈprɒpərti ˈvæljuː/
Definitions
- (n.) The monetary worth or legal worthiness of an asset or interest in real or personal property.
The property value increased significantly after the new zoning laws were enacted.
- (n.) The assessed value of real estate for taxation or mortgage purposes.
The property value determined by the assessor affects the property tax owed.
Forms
- property values
Related terms
See also
Commentary
Property value often varies depending on context—market conditions, legal restrictions, assessment method—and precise legal drafting should specify the basis of valuation to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.