Valuation

Valuation

Valuation means:
the estimated worth or price, often required for both income and property tax purposes. The process of determining the value of the property based on local market conditions. For example, (1) a valuation may be prepared in accordance with instructions provided by a local property tax assessor; (2) a corporation electing to become an S corporation will need to determine the value of all assets for purposes of the built-in gain tax; and (3) property included in the estate of a decedent must be valued for the purpose of calculating the federal estate tax and state inheritance tax.

See Inheritance Tax and Inheritance Tax.

See Property Tax in the American Legal Encyclopedia and Property Tax in the World Legal Encyclopedia.


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