What does assessed value mean?

assessed value meaning in Law Dictionary

real-estate worth that government assessors make use of for fees and court damages. This is simply not appraisal price.

assessed value meaning in Business Dictionary

Value placed on property or private home by federal government (or court appointed) assessors for determining advertising valorem fees, or even to levy damages on sales of a court. Considered value is employed hardly ever as a basis for appraisal worth.