The percentage of valuation that is subject to taxation. For example, Class I and Class II property are assessed at 35%, personal tangible at 24% and public utility property at either 25% or 88%, depending on the type of utility.
the value of property against which an ad valorem tax is levied, usually a percentage of "true" or "market" value. In Wisconsin, the Department of Revenue annually publishes an "Equalized Value" report that estabishes the real estate value in each municipality for debt purposes. Under the Wisconsin Constitution, municipalities may not have general obligation debts outstanding that exceed 5% of their equalized value.
A dollar value that is given to property by a municipality for the purpose of assessing taxes. Assessed valuation is important to both homeowners and investors in municipal bonds that are backed by property tax. See: Municipal Bond