ASSESSED VALUE Definition

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ASSESSED VALUE is the estimated value of property used for tax purposes.

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JOINT VENTURE is a venture by a partnership or conglomerate designed to share risk or expertise. See also VENTURE.

STRIPS, in securities, is dividing a Treasury bond or mortgage-backed security into its principal and interest payments and selling the claims to these payments as new and separate securi­ties. The principal portion is called a principal only (PO) security, and the interest portion is called an interest only (IO) security

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