What term is used to describe the value upon which property taxes are based?
A) assessed value
B) fair value
C) market value
D) determined value

Question

Quizplus · Accepted Answer

The assessed value is the value upon which property taxes are based. This value is determined by a government assessor and is often a percentage of the property's market value. The assessed value is used to calculate the amount of property taxes that a homeowner must pay each year.

What Term Is Used to Describe the Value Upon Which