Tax Assessment


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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 ?
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.
Jeff Sweeney, president at Grubb Ellis I Commercial Florida, says that tax assessments should reflect the declining values of commercial property, and that the firm's objective is to assist county property appraisers.
Soon afterward, PTEC received a tax assessment of approximately $270,000 from the Indonesian tax authority.
Numerous other aspects of property tax assessment merit your consideration.
Robert and Thelma Baechtold challenged the 2002 tax assessment of their residential property situated in Monroe County, Pennsylvania.
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.
It also noted Marcos should have exhausted all legal remedies available under the tax code and should have questioned the assessment before the Bureau of Internal Revenue (BIR) and the Court of Appeals before the tax assessment became final.
This 266-page reference provides homeowners with strategies on appealing their property tax assessment.
1 million tax assessment for a sweet chunk of land he owned near 9th and D Streets NW.
The company has provided California commercial property owners with more than $800 million in property tax assessment reductions in just the last 2 years, saving more than $9 million in property taxes.