notice of assessment


Also found in: Acronyms.

notice of assessment

A notice sent to property owners advising them of the current assessed valuation of their property for real estate tax purposes. The assessed value is usually based on a formula that starts with the fair market value and then decreases it to reach an assessed value. Property owners normally have a specific period of time within which to contest their assessments and should not be complacent just because the assessed value is less than the fair market value.

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On February 28, 2005, the OCC served the First Amended Notice of Charges for Issuance of an Order for Prohibition and Notice of Assessment of a Civil Money Penalty ("Amended Notice") upon Respondent.
Will it refer to a particular year, type of tax, or notice of assessment, or will the notification simply say that "something" is available for the taxpayer to review?
Notice of Intent to Prohibit and Notice of Assessment of a Civil Money
the date issued by the taxing authority), not the date the notice of assessment is received by the taxpayer.
The Province of Ontario's Ministry of Finance has withdrawn its Notice of Assessment totalling $100,000 for provincial retail sales tax.
The Tax Amnesty Program ("Program") applies to tax years or periods listed on a Notice of Assessment issued by the Commissioner on or before July 1, 2014.
More recently, on July 29, the Federal Reserve issued a notice of assessment of a civil money penalty of $200 million against BCCI for its illegal acquisition of CCAH, the National Bank of Georgia, and CenTrust Savings Bank.
Taxes due prior to January 1, 2013, for which the Department has issued a proposed assessment, notice of assessment, bill, notice, or demand for payment not later than May 31, 2013; and
More recently, on July 29, the Board issued a Notice of Assessment of $200 million in civil money penalties against BCCI for its illegal acquisition of CCAH, the National Bank of Georgia, and CenTrust Savings Bank.
Remember that although the Canada Revenue Agency notifies you of your remaining TFSA contribution limit on your Notice of Assessment, it is your responsibility to track your withdrawals and contributions so you don't exceed your annual limit.
The legislation provides property owners with more options and time to appeal a Notice of Assessment.
Suspending assessments is inefficient; alternatively, with longer-term planning, EPA could provide agencies and the public with more advance notice of assessments, enabling them to complete relevant research before IRIS assessments are started.
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