true value

Definition of "true value"
  1. The diminished monetary worth of personal property used in commerce, used to determine the tax liability of the property
How to use "true value" in a sentence
  1. The tax assessor calculated the true value of the restaurant's furniture to determine the yearly property tax.
  2. The county's method of determining true value of equipment was questioned by local business owners, who argued it resulted in excessive taxation.
  3. The office equipment had depreciated greatly throughout the years, leading to a low true value which affected the business's tax liability.

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