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1 : the act or process of valuing [actuarial of the assets and liabilities of a state pension fund]
: appraisal of property [ of marital property is a factual finding that will not be upset unless clearly erroneous "Jensen v. Jensen, 458 N.W.2d 391 (1990)"]
2 : the estimated or determined value (as market value) of a thing [the total assessed of property in the district]
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.