assessed value
A property value established by an official government assessment at a given time, usually for taxation.
The assessed value of a property is a figure comparable to its sales cost, but derived instead from an official government assessment of its value at a given time. The assessment is usually made for tax purposes, and is usually based on market values for similar properties in a similar location. However, this often varies somewhat from the actual going market price for the same property.
The assessment is a valuation rather than a completed sale. A comparable property's market price can inform it without making the assessed amount equal to the price an owner would obtain.
The date matters because an assessment describes value at a particular time. The amount is distinct from both an owner's asking price and an agreed sale price.