Assess

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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.
References in periodicals archive ?
A house on Griffon Avenue on Cayuga Island with a current assessed value of $250,000 would have a land value of anywhere between $1,000,000 and $1,500,000.
Lot no 5 technical value assessed on the basis of the supporting statement.
Under RCRA, Florida state regulators had the highest total of assessed penalties at $2.4 million.
110 relates to the risk of material misstatement at the financial statement level, focusing on "overall responses" by the auditor; further audit procedures responsive to assessed risk at relevant assertion levels; evaluating the sufficiency and appropriateness of the audit evidence obtained; and documentation.
The cap doesn't actually freeze assessments but grants homeowners an expanded homeowners' exemption which, in most cases, keeps the taxable assessed value of their homes from increasing more than 7 percent.
A 3 percent reserve ratio will be assessed on net transaction accounts more than $7.8 million up to and including $48.3 million (up from $47.6 million in 2005).
Currently, fewer than 300 organizations worldwide are assessed at CMMI Level 3 or above.
The IRS properly assessed the tax against the partnership within the requisite three-year period; however, the partnership never paid the deficiency.
Exposure to chlorpyrifos was assessed by measuring it in umbilical cord and maternal blood samples (Whyatt et al.
(25) Aesthetic rhinoplasty can be assessed with the Glasgow Benefit Inventory (GBI) and Nasal Symptom Questionnaire (NSQ).
That's mostly because property tax limitation measures passed statewide by voters in the 1990s continue to keep the assessed value - the figure used to calculate the property tax amount - lower than what the property would fetch if sold on the open market.