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 ?
The double-line sign: a false positive finding on the Focused Assessment with Sonography for Trauma (FAST) examination.
According to William Mohalley, CBP's Director of Regulatory Audit in Boston, the agency's Focused Assessment program allows CBP to develop an opinion regarding the level of risk posed by a particular company's import practices.
Use of the focused assessment with sonography for trauma (FAST) examination and its impact on abdominal computed tomography use in
Beyond focused assessment with sonography for trauma: ultrasound creep in the trauma resuscitation area and, beyond.
The City of Norwalk invites proposal submissions from Management and Consulting Firms, teams, joint ventures or consortia to perform a focused assessment of specific aspects of the Norwalk Fire Department.
Each chapter includes: key terms, focused assessment, clinical alerts, diagnostic tests, medications, cultural considerations, family teaching, additional information for the clinical settings and resources.
Additional prompt sets guide the student's focused assessment and intervention.
We wanted a more focused assessment of youngsters' performance to be able to tell them how their results could be improved.
These reports provide researchers with a broad-based overview of the specific market; a focused assessment of the multiple major corporate entities involved; short, mid-term, and long-range forecasts; and trends.
In the first year, a group of 97 high-risk members agreed to participate in the advanced care management program and received more individually focused assessment and interventions.
As such E&S due diligence for this new investment was combined with monitoring the E&S performance of the wider facility coupled with a focused assessment of the E&S impacts and benefits of the current capex plan being considered for financing.