appraise
verb
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Definition of appraise
1 : to set a value on : to estimate the amount of appraise the damage
2 : to evaluate the worth, significance, or status of especially : to give an expert judgment of the value or merit of appraise an actor's career
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Other Words from appraise
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Synonyms for appraise
Synonyms
assess, estimate, evaluate, guesstimate, rate, set, valuate, value
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Examples of appraise in a Sentence
Recent Examples on the Web
Only recently have many in this country begun to appraise the extent of the tribalism at home. — Laila Lalami, New York Times, "Does American ‘Tribalism’ End in a Compromise, or a Fight?," 26 June 2018 Bacall purchased the apartment for $48,000 in 1961, and it was recently appraised for $9 million, according to the New York Post. — Colleen Egan, ELLE Decor, "Lauren Bacall's Apartment in Iconic New York Building to Hit the Market," 26 Aug. 2014 These included integrating clinical inquiry in the nursing culture as well as delineating tactics for appraising evidence. — Valerie Sweeten, Houston Chronicle, "INSPIRE symposium offers RN insight, engagement," 10 June 2018 There, some 75 experts appraised an estimated 10,000 items -- from family heirlooms to flea market finds -- brought in by viewers. — Mike Scott, NOLA.com, "'Antiques Roadshow' puts vintage New Orleans in the spotlight," 29 Jan. 2018 The Tarrant Appraisal District appraises the property at about $9 million. — Sandra Baker, star-telegram, "Sundance Square buys Fort Worth office building | Fort Worth Star-Telegram," 29 Jan. 2018 Villarreal has not announced the fee, but sources close to the negotiation have appraised the fee at approximately 40 million euros. — Efe, chicagotribune.com, "Bakambu leaves Villarreal for Chinese Super League," 17 Jan. 2018 The rowhouse was appraised at $7,500, but saddled with tax liens that exceeded its value. — Tim Prudente, baltimoresun.com, "Collapse: The rise and deadly fall of a Baltimore rowhouse," 12 July 2018 The house and the land were appraised at $83,170 this year, according to Cobb property records. — Ben Brasch, ajc, "Cobb fire: Woman burns down home because man went to see another woman," 3 July 2018These example sentences are selected automatically from various online news sources to reflect current usage of the word 'appraise.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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More Definitions for appraise
appraiser
nounFinancial Definition of appraiser
What It Is
An appraiser is a person capable of providing an appraisal.
How It Works
An appraisal is a document that formally describes the value of a piece of property, usually exceeding $5,000. For example, let’s imagine that John Doe wants to donate a painting to his favorite charity. He believes the painting is worth $20,000. Instead of simply putting a $20,000 deduction on his tax return for the year, John Doe hires an appraiser to determine how much the painting is worth. A qualified appraiser provides an independent estimate, putting the value of the painting at $22,000. John Doe files IRS Form 8283 with his tax return and deducts $22,000.
Although almost anybody can estimate the value of goods or services, the IRS has very strict guidelines about who can be a "qualified appraiser." Among other things, the appraiser must have a professional appraiser designation from a national appraiser organization, perform appraisals regularly, meet certain education requirements and meet other guidelines as the IRS deems necessary. In many cases, a qualified appraiser can’t be the donor, the donee, anyone party to the acquisition of the property, or an employee or relative of anyone involved.
Appraisers charge a fee for appraisals, though for qualified appraisers, the fee cannot be based on or a percentage of the value of the property appraised. The cost of the appraisal itself is also not deductable as a charitable contribution, though it might be deductible elsewhere depending on the donor’s tax situation. Sometimes charities pay the appraisal fee, but some types of charities are restricted from doing so.
Why It Matters
For many securities, the market is a natural appraiser—it dictates the value of securities on an almost instantaneous basis throughout the day. But for less liquid things, such as houses, old cars, pieces of art, or ownership positions in private companies, it’s harder to decide what those things are worth. And in many cases, the value of an asset determines the price of a transaction or the size of a tax bill.
Accordingly, misleading asset pricing can also be a way to engage in tax fraud or lopsided deals. That’s why the IRS requires people who want to deduct certain large charitable donations to obtain qualified appraisals for those items. The IRS can impose penalties of 40% for a gross misstatement of a donation (and even a 20% penalty for just a “substantial” misstatement), and it can also penalize the appraisers involved in the misstatement.
Source: Investing Answers
appraise
verb
English Language Learners Definition of appraise
: to say how much something is worth after you have carefully examined it : to give an official opinion about the value of (something)
: to give your opinion about the condition, quality, or importance of (something or someone that you have studied or examined)
See the full definition for appraise in the English Language Learners Dictionary
appraise
verb
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Kids Definition of appraise
: to set a value on appraise a diamond
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appraise
transitive verb
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Legal Definition of appraise
: to estimate the value of : make an appraisal of
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