Definition: The assessed value of an asset from which the tax owing is computed.
Alright class, settle down and let’s take a look,
At this word ‘TVS’, it’s quite a book!
The dictionary tells us, clear and bright,
"The assessed value, shining like light."
Now, “assessed” means we're figuring out,
How much something’s worth, without a doubt.
Like your favorite toy, or a shiny new car,
We need to know its value, near and far!
“TVS,” in this context, you see,
Refers to property – for you and me!
It's the amount they figure it’s worth,
To calculate taxes, right here on Earth.
Think of it like this, a simple plea:
The value of your house, for all to decree!
Does that make sense? Any questions arise?
Let’s discuss it further, with thoughtful eyes!