special use valuation

noun

Legal Definition of special use valuation

: 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

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“Special use valuation.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/special%20use%20valuation. Accessed 30 Oct. 2020.

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