Description

The tax assessed value refers to the value assigned to a property by a governmental authority for the purpose of taxation. This value is used to determine the amount of property tax owed by the owner and can vary based on market conditions and property improvements.

Interpreter Notes

Interpreters should be aware that the term may be used in discussions about property taxes and real estate assessments. Common variants include 'valor de tasación' or 'valor catastral', but it is important to stick to the glossary term in formal contexts to avoid confusion with other types of property valuations.

Example Sentences

EN: The tax assessed value of the house increased significantly after renovations were completed.

ES: El valor de la tasación de la propiedad con fines impositivos de la casa aumentó significativamente después de que se completaron las renovaciones.

Common Interpreter Mistakes

Confusing 'tax assessed value' with 'market value'; misinterpreting related terms like 'appraised value'; using colloquial terms that may not be understood in formal contexts.