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 ?
The Assessor kept the assessed value at the 1992/93 level.
Taxpayer concentration remains above average with the 10 largest taxpayers representing 37% of incremental assessed value.
The Los Angeles County Assessor's Office has the Zelman-owned property assessed at $28 million, said Robert Knowles, a spokesman for the office.
Certainly, in a depressed market, owners who provide an accurate picture of the declining economics of their properties to the Assessor are most likely to enjoy the most accurate assessed values.
The city of Los Angeles led with the highest assessed value at $286.
In addition, it is asking for changes in the way cooperative and condominium apartments are assessed so that this process reflects market rental values.
Debt levels are and should remain moderate as additional bonds are offset by a rapidly rising population and assessed values, along with rapid amortization of outstanding debt.
Supporters of the bonds, which would tax homeowners at a rate close to or at $60 per $100,000 assessed valuation in both communities, have formed committees to help campaign for passage of the measures.
Thus, while the question is assessed at the lowest possible level at which the student can answer it, the answer is assessed at its highest possible level.
On October 4 of Year 4, the IRS assessed additional tax and interest in an amount equal to T's advance payment.
For property tax valuation purposes cooperatives and condominium properties are required to be assessed as if they are rental properties using rent stabilized rents in such areas covered by the Emergency Tenant Protection Act, the New York State Court of Appeals has ruled.
The auditor may find the only reasonable strategy is to obtain an understanding of controls and perform tests on them sufficient to support a lower assessed level of control risk.