In terms of color properties, what does 'value' refer to?

Value in color properties specifically refers to the lightness or darkness of a color. This concept helps determine how colors can appear in different lighting conditions and how they interact with one another in a composition. The value of a color is essential when creating depth, contrast, and mood in a piece of artwork. For instance, a color with a low value is darker, while a higher value indicates a lighter shade. Understanding value allows artists to manipulate colors effectively to achieve the desired visual impact and emotional response in their work.