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The correct term for the monetary value established for property tax evaluation is assessed value. This value is determined by local tax assessors and reflects the estimated worth of a property for the purpose of taxation. The assessed value is not necessarily the same as the market price; rather, it is based on various factors including the property's location, structure, and condition, and is typically set according to local tax laws and regulations.

Market price refers to the current value at which a property could be sold in the open market, which can fluctuate significantly based on buyer demand and economic conditions. Investment value is a more subjective measure, reflecting the worth of a property to a specific investor based on their individual investment criteria. Replacement cost refers to the expense required to replace a property with one of similar utility and quality at current prices, which may also differ significantly from assessed value.