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1. To estimate the value of a property, especially for property tax purposes. For example, a county may send an assessor to one's house to assess its value and base the property tax one owes on that assessment.

2. To decide the cost of something. For example, an insurance company may assess the damage of a house fire at $120,000 and agree to pay that much toward repairs. Alternatively, the government may assess that one owes $50,000 in income tax based upon one's income the previous year.

Tax Assessment

The determination of how much a person or company owes in taxes. One usually determines one's own tax assessment by declaring one's income and capital gains from the previous year and applying the methodology the government requires to arrive at the tax liability. The government has the right to audit any tax assessment.


(1) The official valuation of property for tax purposes. (2) A one-time charge made against property owners for each one's pro rata share of the expense of repairs or improvements to be enjoyed by all of them in common,such as a condo association assessment to replace a roof,or a local government assessment to pave a dirt road. (3) Determination of the value of property in a condemnation case.

References in periodicals archive ?
The RTA will embark on a thorough study of all its service offering comprising 208 services of which 156 services are currently available online in order to analyze them and explore the possibility of providing them via mobile phones whether partially or fully.
Price is aware of the move by many RTA producers to elevate the category in quality and retailer perception.
As such, it forms an integral part of RTAs efforts to keep pace with the national policy.
The RTA, meanwhile, said in a statement on Friday that it is offering a new series of licence plates at an auction next month.
Last month, the RTA launched its driverless transport Dubai World Challenge, while Al Tayer met with Elon Musk in Los Angeles to discuss the organisation's fleet of electric vehicles.
Earlier this month, Al Tayer announced that the RTA had 35 mega projects in the pipeline for the upcoming Expo.
An RTA database was formed by collecting names listed in the programs of all RTA productions held at Sing Sing Correctional Facility from 1996 through 2007.
From the above, it is clear that while RTAs have the capacity to complement the multilateral trading system, they can also be a source of trade diversion and difficulty.
The Studio RTA brand will remain on select contemporary items, but the merchandising and global operations team, headed by Studio RTA President Bob Hughes, will become Sauder Global Sourcing, specializing in import issues for all Sauder customer programs.
Studio RTA specializes in product design and development, and works through partners in Taiwan and southern China for sourcing.
NAFTA is the first RTA between a developing country (Mexico) and highly industrialized neighbors (the United States and Canada).