Assessed Value

Definition

The government's opinion of what your property is worth, used exclusively to calculate how much tax you owe. It's magically always high enough to maximize your tax bill but too low to impress your neighbors.

Example Usage

"My assessed value went up 20% but my house looks exactly the same. The county assessor is apparently more optimistic about my property than I am." - A taxed homeowner

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lock period

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air rights

The property rights to use the vertical space above a parcel of land, which can be sold separately from the land itself. In dense cities, this lets you literally monetize thin air by selling the right to build above your property.

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assess

The formal process of determining value, typically involving clipboards, spreadsheets, and someone walking around your property looking concerned. In real estate, it's how governments decide how much they can tax you; in business, it's how managers justify their existence by evaluating everything constantly. The corporate cousin of "let me take a look at that."

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usufruct

The legal right to use and enjoy someone else's property without owning it, common in Louisiana and community property states. It's basically borrowing a house legally and permanently.

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price per door

The total acquisition cost of a multifamily property divided by the number of rental units, providing a quick metric for comparing deals. It's how apartment investors reduce complex investments to a single number they can text each other.

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comparables

Recently sold properties used to determine market value, cherry-picked by whichever party needs to prove their point. The art of comparing apples to slightly different apples.

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latwttb

laughing all the way to the bank...