IPA: /ˌoʊvərˈreɪt/
KK: /oʊvərˈreɪt/
To think that something is better or more important than it really is.
Many people overrate the importance of fame in achieving happiness.
Past: overrated
Past Participle: overrated
Overrate → It is formed from "over-" (meaning excessively) and "rate" (from Old French *rate*, meaning to assess or evaluate). The word "overrate" means to assess something as being greater than it actually is, or to evaluate excessively.
Think of evaluating something 'excessively' ('over-') — that's why overrate means to give something too high a value.