assessment

/euh ses"meuhnt/, n.
1. the act of assessing; appraisal; evaluation.
2. an official valuation of property for the purpose of levying a tax; an assigned value.
3. an amount assessed as payable.
[1530-40; ASSESS + -MENT]

* * *

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.

* * *

▪ calculation of value
      process of setting a value on real or personal property (property tax), usually for the purpose of taxation. In most countries central government agencies do the assessing, but in some it is done by local officials.

      Property is perhaps most commonly assessed on the basis of its annual rental value, as in Great Britain. In some countries, though, including the United States, Austria, and Denmark, the tax base is the property's capital value. Among the methods used to determine value are the analysis of market data to estimate the property's current market price, the estimation of the costs of reproducing the property minus the accrued depreciation, and the capitalization of the earnings of the property.

      The last method seems most appropriate for the appraisal of commercial property and apartment buildings, whereas the second is well suited for appraising factories and other specialized properties. In practice, many assessing officers utilize an approach derived from all three methods, and the assessed valuation often is actually less than the property's current market value. Governments sometimes attempt to equalize effective assessed valuations by supplying a multiplying factor for various taxing districts based upon the degree to which their assessors undervalue.

* * *


Universalium. 2010.

Synonyms:

Look at other dictionaries:

  • assessment — as‧sess‧ment [əˈsesmənt] noun 1. [countable, uncountable] a judgement that you make about a person or situation after considering all the information: • They will have to make an assessment of the services required to meet the health needs of the …   Financial and business terms

  • assessment — I (estimation) noun aestimatio, appraisal, appraisement, calculation, determination, estimate, measure, mensuration, rating, reckoning, survey, valuation associated concepts: assessment of damages II (levy) noun amount assessed as …   Law dictionary

  • Assessment — As*sess ment, n. [LL. assessamentum.] 1. The act of assessing; the act of determining an amount to be paid; as, an assessment of damages, or of taxes; an assessment of the members of a club. [1913 Webster] 2. A valuation of property or profits of …   The Collaborative International Dictionary of English

  • Assessment — (deutsch: Einschätzung, Beurteilung, Abwägung) bezeichnet: Assessment (Psychologie), Erfassung von psychologischen und anderen Merkmalen zu einem praktischen Zweck Assessment Center zur Erforschung fachlicher, persönlicher, sozialer und leitender …   Deutsch Wikipedia

  • Assessment — process undertaken by an accreditation body to assess the competence of a conformity assessment body, based on particular standard(s) and/or other normative documents and for a defined scope of accreditation (p. 3.7 ISO/IEC 17011:2004). Источник …   Словарь-справочник терминов нормативно-технической документации

  • assessment — [n1] evaluation appraisal, computation, determination, estimate, estimation, judgment, rating, reckoning, valuation, value judgment; concept 24 assessment [n2] assignment of fee, amount appraisal, charge, demand, duty, estimate, fee, levy, rate,… …   New thesaurus

  • assessment — [ə ses′mənt] n. 1. the act or an instance of assessing 2. an amount assessed: See also SPECIAL ASSESSMENT …   English World dictionary

  • assessment — The valuing of a thing or property (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • assessment — (n.) 1540s, value of property for tax purposes, from ASSESS (Cf. assess) + MENT (Cf. ment). Meaning determination or adjustment of tax rate is from 1540s; general sense of estimation is recorded from 1620s. In education jargon from 1956 …   Etymology dictionary

  • Assessment — For article assessment process on Wikipedia, see . Assessment is the process of documenting, usually in measurable terms, knowledge, skills, attitudes and beliefs. This article covers educational assessment including the work of institutional… …   Wikipedia

  • assessment — noun ADJECTIVE ▪ broad, general, overall ▪ individual ▪ continuous, regular ▪ Examination is by continuous assessment …   Collocations dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.