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 ?
Form 2750 is a waiver form used to extend the SOL on assessment of the trust fund recovery penalty.
We hope that you will find the topics and projects examined by authors in this issue valuable in your use of effective assessment across a variety of learners and settings.
Education specializes in diagnostic assessments, instructional materials, and test preparation products that match state tests.
Like a survey, a storage assessment ensures that the assets are inventoried, accounted for and protected, and that you are not paying continuing charges for resources that you are not using.
High-rise assessments rise, other condo types decline.
Children requiring a full developmental assessment visit the Preschool Diagnostic Center for an assessment.
It could be argued that subsequent presentations offered considerable support for this differential definition of assessment.
I remember my first experience with 360-degree assessments came when I was serving as chief of staff for Cigna.
Accordingly, for purposes of assessment, the employer is the taxpayer, and in Galletti the employer was the partnership, not the general partners.
Implementing formative factors can assist in preparing students for multiple types of assessment, so they are comfortable when testing occurs.
The assessment process must start with a basic understanding of the unique nature of the customer.

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