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The phrase "are based on the value of" is correct and usable in written English.
You can use it when discussing the foundation or criteria for a decision, calculation, or assessment that relies on a specific value.
Example: "The final scores of the students are based on the value of their performance in the exams."
Alternatives: "depend on the value of" or "rely on the value of".
Exact(14)
Our fees are based on the value of our products".
Their loans are based on the value of collateral, not of a business venture.
Both house price indices are based on the value of mortgages the two lenders approve and do not include cash sales.
Special Drawing Rights are based on the value of the dollar, euro, pound and yen, but have been little used except as an accounting entry by international organizations.
Their calculations, by the way, are based on the value of options when they are granted, not by their eventual value when they are cashed in.
Rates are based on the value of each commercial property and are set to bring in £27bn in this financial year.
Similar(46)
It's based on the value of the asset.
The price was based on the value of the land; the house was a fixer-upper.
The business rates system is based on the value of sites.
The value is based on the value of the materials the medals are made of.
The designation was based on the value of contracts Fluor was awarded in 1989.
More suggestions(16)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.
Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com