Law Dictionary

salvage value

noun

Legal Definition of salvage value

  1. 1 :  the value of damaged property

  2. 2 :  the actual or estimated value realized on the sale of a fixed asset at the end of its useful life

Additional Notes on salvage value

Salvage value is used in calculating depreciation.


Learn More about salvage value


Seen and Heard

What made you want to look up salvage value? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

a brief usually trivial fact

Get Word of the Day daily email!