assessment

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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 ?
18-29; KSA 4, 101, KTA 75, 83-84: "Man vergilt einem Lehrer schlecht, wenn man immer nur der Schuler bleibt.
When faced with this obstacle to privatisation, the only option open to the KTA was to apply to the SRSG1 (10) for permission to have an illegitimate and obstructive SOE management evicted by force, followed by the imposition of an interim management of the KTAs choosing.
The KTA programme has formed an ideal nucleus around which to build and strengthen those core relationships and also to draw in other world class industry and commercial partners as listed above.
As an existing Symphony EYC customer who is advancing to our latest Merchandise Management offering, KTA is convinced by the benefits and advantages of our solution for their retail grocery business - for both current and future business needs," said Jyrki Ihanainen, Vice President, Symphony EYC.
At KTA we are very excited about working on such a prestigious assignment.
The team, led by HITT, includes Wisnewski Blair & Associates for Architecture; KTA Group for Mechanical, Electrical, and Plumbing Engineering; Woods Peacock for Structural Engineering; Kimley-Horn and Associates for Civil Engineering; and Schmid & Associates for Fire Protection Engineering.
Besides the KTA, DCNR's Bureau of Forestry is teaming up with the Western Clinton Sportsmen's Association and greater Renovo Area Heritage Park Vision Project to introduce association members and the public to the wealth of hiking opportunities found in north central Pennsylvania.
Shaw's ROG technology will enable SYP's unit to produce an incremental 270 kTA of ethylene and 320 kTA propylene.
DCNR and co-sponsor Keystone Trails Association, or KTA, have been asking the public to suggest new hikes that could be added to this year's schedule, found online at www.
The company intends to increase name-plate capacity at its polyols plant in Terneuzen, The Netherlands, by 180 kilotons per annum (KTA), and at its propylene glycol (PG) facility in Stade, Germany, by 80 KTA.
10 The Action Cycle: Selecting, tailoring and implementing KTA interventions - Michel Wensing and Richard Grol.
Acumen Solutions, a leading business and technology consulting firm and KTA Group, an engineering design and consulting firm, announced today the availability of a unique Data Center Energy Audit with a savings guarantee.