Tax-appraised Value
Definition of "Tax-appraised value"
Estimate of an asset that is used to determine tax obligations. It is usually in the interest of the owner to have a low value put on a piece of property for tax purposes. However, the owner sometimes wants the same property to carry a higher appraisal value for insurance purposes so that losses can be easily recovered if the property is lost or damaged.
Popular Insurance Terms
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Section of the insurance policy that lists all of the provisions that are applicable to the insurance coverage provided under that section. This section is attached to the policy jacket ...
Coverage for numerous perils such as that found in the broad form personal theft insurance. ...
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