special use valuation
special use valuation n: a method of valuation allowed under the Internal Revenue Code in calculating estate taxes on farm property or on real property used in a closely held business in which the property is valued on the basis of its current use rather than at the market value for its highest and best use

Merriam-Webster’s Dictionary of Law. . 1996.

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  • special use valuation — An option which permits the executor of an estate to value, for death tax purposes, real estate used in a farming activity or in connection with a closely held business at its current use value rather than at its most suitable or highest and best …   Black's law dictionary

  • most suitable use valuation — For gift and estate tax purposes, property that is transferred normally is valued in accordance with its most suitable or highest and best use. Thus, if a farm is worth more as a potential shopping center, this value will control even though the… …   Black's law dictionary

  • most suitable use valuation — For gift and estate tax purposes, property that is transferred normally is valued in accordance with its most suitable or highest and best use. Thus, if a farm is worth more as a potential shopping center, this value will control even though the… …   Black's law dictionary

  • valuation — The act of ascertaining the worth of a thing. The estimated worth or price of a thing. See also appraisal assessed valuation fair value special use valuation value @ valuation list …   Black's law dictionary

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  • Value-in-use — is the net present value (NPV) of a cash flow or other benefits that an asset generates for a specific owner under a specific use. In the U.S., Value in Use is generally estimated at a use which is less than highest and best use, and therefore… …   Wikipedia

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  • Real estate appraisal — Real estate appraisal, property valuation or land valuation is the practice of developing an opinion of the value of real property, usually its Market Value. The need for appraisals arises from the heterogeneous nature of property as an… …   Wikipedia

  • German income approach — The German income approach (German: Ertragswertverfahren, abbr. EWV) is the standard approach used in Germany for the valuing of property that produces a stream of future cash flows. For general information on German real estate appraisal please… …   Wikipedia

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