by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An area whose boundaries are set for tax assessment purposes only. An assessment district is a defined geographic area where property owners are charged an additional fee or tax to help pay for specific public improvements or services that benefit that area. These...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An assessment is an estimate of value for tax purposes. Also referred to as assessed valuation. An assessment is a value assigned to a property, most commonly by a local government, for the purpose of calculating property taxes. This assessed value is typically...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
The price at which the seller is offering property for sale. The asking price is the amount of money a seller lists a property for when it is put on the market, and it serves as the starting point for buyer interest and negotiations. The asking price is usually based...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
Premises accepted by a buyer or tenant in the condition existing at the time of the sale or lease, including all physical defects. “As-is condition” means the property is being sold in its current state, with the seller indicating they will not make repairs,...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
A hazardous material, used for fire resistance, once commonly used in insulation, flooring, and roofing materials. Asbestos is a naturally occurring mineral fiber that was widely used in building materials because it resists heat, fire, and corrosion, but it is now...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
Any part of real property which passes upon the transfer, either attached or not, such as a barn or an easement. An appurtenance is something that is attached to or associated with a property and is considered a permanent part of it, meaning it typically transfers to...
