appraise

verb

ap·praise | \ə-ˈprāz

appraised; appraising

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

Other Words from appraise Synonyms Choose the Right Synonym More Example Sentences Learn More about appraise

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Other Words from appraise

appraisee \ə-ˌprā-ˈzē

\ noun

appraisement \-ˈprāz-mənt

\ noun

appraiser noun

appraisingly \-ˈprā-ziŋ-lē

\ adverb

appraisive \-ˈprā-ziv

\ adjective

Choose the Right Synonym for appraise

estimate, appraise, evaluate, value, rate, assess mean to judge something with respect to its worth or significance. estimate implies a judgment, considered or casual, that precedes or takes the place of actual measuring or counting or testing out. estimated the crowd at two hundred appraise commonly implies the fixing by an expert of the monetary worth of a thing, but it may be used of any critical judgment. having their house appraised evaluate suggests an attempt to determine relative or intrinsic worth in terms other than monetary. evaluate a student's work value equals appraise but without implying expertness of judgment. a watercolor valued by the donor at $500 rate adds to estimate the notion of placing a thing according to a scale of values. a highly rated restaurant assess implies a critical appraisal for the purpose of understanding or interpreting, or as a guide in taking action. officials are trying to assess the damage

Examples of appraise in a Sentence

The ring must be appraised by a jeweler before it can be insured. appraise the house and property What is the property's appraised value? In the book, he appraises Hollywood's recent films and contrasts them with several independent films.

Recent Examples on the Web

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 2018 In this case, Tryon Street is actually standing in for Rockefeller Plaza in Manhattan, where the guys have gone to get their take appraised by Christie's Auction House. — Théoden Janes, charlotteobserver, "Charlotte stars in summer's most groundbreaking film. Recognize any of the locations?," 5 June 2018 The assessor is responsible for identifying and appraising all taxable property in Marion County. — Holly V. Hays, Indianapolis Star, "Marion County primary: Forestal and Durham held on to early leads to win sheriff race," 8 May 2018 One was filled with praise for the Reds minor leagues, from experts who appraise such things. — Paul Daugherty, Cincinnati.com, "Paul Daugherty: Bob Castellini still a believer, despite Cincinnati Reds 'embarrassing' April," 24 Apr. 2018 The building at 35 Oak St., owned by KeyBank, is appraised at $674,300 and was built in 1923, according to assessor’s records. — Jesse Leavenworth, Courant Community, "Manchester Mosque Seeks To Expand," 30 Mar. 2018 Superintendent Nikolai Vitti told the board in February that the property appraised for $130,000. — Lori Higgins, Detroit Free Press, "Detroit school board OKs selling land for Wayne County jail project," 6 Mar. 2018 And there's vacant space set aside for prospective future tenants that would provide additional services to art collectors, such as photography, framing, restoration and appraising. — Tom Daykin, Milwaukee Journal Sentinel, "Milwaukee's Menomonee Valley lands unusual development: High-tech fine art storage center," 19 Jan. 2018

These 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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Last Updated

7 Oct 2018

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Time Traveler for appraise

The first known use of appraise was in the 15th century

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More Definitions for appraise

appraiser

noun

Financial 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