Tax Assessment

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Related to Tax Assessments: Real Property Taxes

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.
References in periodicals archive ?
Stephens said that condition and quality inspections are necessary as part of credible and thorough valuations and that tax assessments do not include such inspections.
During this period of declining values, real estate tax assessments continued to increase.
The majority of states employ a market value standard for purposes of establishing annual real estate tax assessments.
In a pair of cases in 2001, payments to reduce tax assessments in Indonesia again created liability for a U.
Each state has adopted its own statutory definition of "value" for purposes of estimating annual real estate tax assessments.
Heale, who set up a property tax assessment committee through the Espanola Chamber of Commerce, is working on a report for the chamber for this fall detailing the inequities in the system.
The Corrected Assessment procedure does not apply to property tax assessments (including the Dealers in Intangibles Tax).
Generally, the entity filing the tax appeal will have the burden of proving that the tax assessment is incorrect.
Thus, even if the assessments may have been erroneous in a technical sense, T was not misled or prejudiced by the errors, and the employment tax assessments under X's name and EIN are valid against T.
He described the tax assessments as "wildly arbitrary and excessive" and his solicitors entered an appeal against the ruling.
For anyone seeking methods to help lower their property tax assessments, this guide can be a practical tool.
Every commercial and apartment property owner or manager should review their tax assessments annually to avoid missing out on substantial property tax refunds," Sullivan said.