term:

Special Use Valuation

special use valuation n

: 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

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.