The value that a taxing authority, such as a county assessor places on real property as a base for computing property taxes. Generally assessed at 80% of value.
In real estate, the interest or value of the real estate over and above the amount of the indebtedness thereon.
Mortgage payments that include only interest. No loan amortization occurs and, thus, the homeowner does not accrue any equity (unless the home value increases).
Interest which is computed only on the principle balance.