Definition: Value is the worth of a property or property interest under a particular definition, purpose, and date.
Example
A valuation assignment specifies market value rather than the special value the property may have to one adjoining owner.
Keep the distinction clear
Ask what kind of value is intended. Market value, investment value, assessed value, and cost are not interchangeable.
Related terms
Market Value · Appraised Value · Cost
Keep studying
CMA vs. Appraisal: What Is the Difference?
References: California DRE: appraisal and valuation concepts
Pronunciation (US): VAL-yoo (capitals show stress)
Pronunciation reference: Merriam-Webster
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