# Assessed Value

*Real Estate — Finicade finance glossary*

Assessed value is what a local authority says a property is worth for tax purposes — often a fixed fraction of market value, updated on a slow cycle.

Assessed value is what a local authority says a property is worth for tax purposes, often a fixed fraction of estimated market value and updated on a slow cycle. It routinely diverges from market value, sometimes by a lot. Appeals are worth making when the assessment outruns the market, because a successful one compounds — it lowers the bill every year until the next revaluation.

**Also known as:** tax assessed value, rateable value, assessment ratio

**Related terms:** [Property Tax](https://finicade.com/glossary/property-tax), [Home Appraisal](https://finicade.com/glossary/home-appraisal), [Comparative Market Analysis](https://finicade.com/glossary/comparative-market-analysis), [Real Estate](https://finicade.com/glossary/real-estate), [Homeowners Association (HOA)](https://finicade.com/glossary/homeowners-association)

Source: https://finicade.com/glossary/assessed-value