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assessment
(redirected from tax assessment)

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Wikipedia 0.01 sec.

assessment

Process of setting a value on real or personal property, usually for the purpose of taxation. It is carried out either by central government agencies or by local officials. Property may be assessed on the basis of its annual rental value, as in Britain, or its capital value, as in the U.S. Various methods are used to determine capital value, including analysis of market data to estimate the property's current market price, estimation of the cost of reproducing the property minus accrued depreciation, and capitalization of the property's earnings.


assessment
A tax, charge, or levy on property:
1. as a means of computing real estate tax;
2. to pay for specific services or improvements.


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The city argued that value should be based on capitalizing one year's worth of income--without regard to future income--and the result for Eastern Parkway proved to he an inaccurate tax assessment that took into account higher property values and higher income levels than what's expected for the taxed year.
Designed as a reference for anyone who needs to compile statistics or maintain contact information within the state, this volume provides entries that list demographics/socio-economic characteristics, general contact information, government personnel, housing and construction data, public library services, property tax assessment, public safety and crime statistics and information on school districts and municipal finance structures.
Property Use Tax assessments have to be completed before May 1, 2009, and paid on or before September 1, 2009.
 
 
 
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