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 ?
Cllr Kate Dixon with the visitors before afternoon tea and below, the martial arts team with Wei-Ying Thang from Bourg-la-Reine and Gino Bonnarigo of the KTA
It has been applied to usual materials indicated in ASME, KTA and RCC-MR codes for reactor pressure vessels manufacturing.
47) KGW VI/1, 283-287, KSA 4, 287-291; KTA 75, 253-257.
Secondly, in the event that the incumbent management of an SOE was resistant to privatisation, the KTA did not have the power to force privatisation upon an unwilling SOE.
From its lauded private-label Mountain Apple Brand, which promotes locally produced goods (see accompanying story), to the island landscape-influenced company logo on all of the company's brown paper grocery bags, KTA keeps its island roots front and center in nearly everything it does.
The goal of KTA Group, Davis Carter Scott and Northrop Grumman is to achieve LEED[R] Silver certification.
Dow is a global capacity leader in propylene oxide (PO) and PG manufacturing, with global PO capacity of over 2,000 KTA and global PG capacity of over 700 KTA.
Styrenic block copolymers supplier Kraton Performance Polymers Inc (NYSE:KRA) announced on Tuesday the initiation of a project assessment to identify options for building a new 30 Kta hydrogenated styrenic block copolymer (HSBC) plant in Asia.
KTA Group was established in 1989, and has grown to be a nationally recognized leader in mechanical, plumbing, electrical engineering and third party plan review.
11 The Action Cycle: Selecting KTA Interventions - Educational interventions - Dave Davis.
The energy audits Acumen Solutions and KTA perform are far more practical and holistic than any others we've seen in the industry," says Shally Bansal Stanley, Managing Director of Global Services at Acumen Solutions.
The company's global propylene oxide (PO) capacity is over 2,000 KTA, along with a global PG capacity of over 700 KTA.