What is Appraisement?

Legal Definition
A just valuation of property.

2. Appraisements are required to be made of the property of persons dying intestate, of insolvents and others; an inventory (q. v.) of the goods ought to be made, and a just valuation put upon them. When property real or personal is taken for public use, an appraisement of it is made, that the owner may be paid it's value.
-- Bouviers Law Dictionary
Legal Definition
A just and true valuation of property. A valuation set upon property under judicial or legislative authority. Cocheco Mfg. Co. v. Strafford, 51 N. H. 482.
-- Black's Law Dictionary