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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
"This news undermines the validity of the Sats spelling and grammar test children are sitting today and is a body blow to parent and teacher confidence in the primary assessment system."
And monitoring online engagement and performance can be considered "secondary assessment." Both activities nicely complement the primary assessment you performed during the initial interview.
Research on primary assessments is alarmingly sparse, with little guidance provided to teachers on appropriating traditional developmental assessments to function within accountability contexts (Pyle & DeLuca, 2013).
We used clinical history and a physical examination as our primary assessment (Fig.
Damascus, SANA -- Ministry of Agriculture and Agrarian Reform stressed that the primary assessment of the citrus production for the current season is 1,1 million tons, among them 75 percent in Lattakia, 24 percent in Tartous and 1 percent in other provinces.
PRIMARY assessment of tiger population at Rajaji National Park, spread in an area of over 820 sq km, indicates a rise in the numbers of the striped cat.
The Bank's primary assessment is based on a sound business plan that demonstrates that the applicant has considered a wide range of operational and managerial aspects, in addition to realistic cash flow projections.
The death toll was reported by World Health Organization (WHO) to the government, which has bee a primary assessment, however, the officials put the number of deaths around 100 caused by rubella
This EU-funded Phase 2 project builds on this work and emphasizes effective prevention, diagnosis, and treatment of common and severe mental health disorders, and will be implemented across a continuum of care levels: primary assessment and ongoing care in primary health care clinics, specialized and community care in Community Mental Health Centers, acute care units in general hospitals and promoting rehabilitation services in tertiary care facilities.
Shelter and household goods were the most urgent needs, according primary assessment by aid agencies.
The Commissioner of Behavioral Health and Developmental Services must designate the primary assessment tool, which must be a risk assessment instrument with a corresponding reference score.
The records revealed that the primary assessment of the patient was made at 8:16 p.m.