assessment


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Related to assessment: Formative assessment, assessment tools

Assess

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.

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 ?
No legal authority barred the execution of a written agreement to extend the assessment period during the 90-day extension provided under Sec.
Like an inspection, a storage assessment looks into your storage infrastructure and inspects for weaknesses, such as oversubscribed SAN switches, poor performing backup hardware or out-of-space conditions; and then recommends steps to correct the weaknesses.
However, since the exemption limit is $20,000 of taxable assessed value, residents with expensive homes are likely to see assessment increases greater than 7 percent.
Co-op operating expenses up, assessments decline considerably.
Regardless of which tool we use, it is important that assessment is play-based," says Pipkin.
Upon completion of the job analysis, assessors should meet with candidates to help them understand the assessment process.
Clients who are placed in the context of real work during their vocational assessment begin, very quickly, to act like workers.
In both the career assessment and community-based assessment procedures, evaluators may find it beneficial to engage in work adjustment.
If Los Angeles voters approve four more tax measures proposed for the November ballot, the number of special taxes and assessments on the average Los Angeles resident's property tax bill will increase from 16 to 20 - some of them involving multiple billings for the same kind of service.
The value of the assessment, he said, is to "match people and backgrounds into the right training experiences.
For example, she says, even though the EPA's risk assessment guidelines recommend an examination of risk ranges and averages (or central tendencies) in hazard and exposure assessments, risk assessors choose numbers on the high end.

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