assessment


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Related to assessment: Formative assessment, assessment tools

Assessment

The process by which the financial worth of property is determined. The amount at which an item is valued. A demand by the board of directors of a corporation for the payment of any money that is still owed on the purchase of capital stock. The determination of the amount of damages to be awarded to a plaintiff who has been successful in a lawsuit. The ascertainment of the pro rata share of taxes to be paid by members of a group of taxpayers who have directly benefited from a particular common goal or project according to the benefit conferred upon the individual or his or her property. This is known as a special assessment. The listing and valuation of property for purposes of fixing a tax upon it for which its owner will be liable. The procedure by which the Internal Revenue Service, or other government department of taxation, declares that a taxpayer owes additional tax because, for example, the individual has understated personal gross income or has taken deductions to which he or she is not entitled. This process is also known as a deficiency assessment.

assessment

(Estimation), noun aestimatio, appraisal, appraisement, calculation, determination, estimate, mensuration, rating, reckoning, survey, valuation
Associated concepts: assessment of damages

assessment

(Levy), noun amount assessed as payable, capitation, census, cess, charge, charge levied, exactment, imposition, impost, rate, tallage, tax, toll
Associated concepts: assessed valuation, assessment and collection of taxes, assessment district, assessment for bennfits, assessment for special improvements, assessment innurance, assessment lien, assessment of property, assesssent roll, assessor, equalized assessment, improvements, municipal improvements, public improvements, special assessment, tax assessment, valuation of property
See also: account, ad valorem, appraisal, appreciation, arbitration, charge, choice, computation, concept, conclusion, cost, decision, determination, differentiation, discernment, discretion, discrimination, duty, estimate, estimation, excise, expense, idea, inspection, judgment, levy, measurement, opinion, perception, price, rate, rating, rent, tariff, tax, toll, value, verdict

ASSESSMENT. The making out a list of property, and fixing its valuation or appraisement; it is also applied to making out a list of persons, and appraising their several occupations, chiefly with a view of taxing the said persons and their property.

References in periodicals archive ?
No legal authority barred the execution of a written agreement to extend the assessment period during the 90-day extension provided under Sec.
Like an inspection, a storage assessment looks into your storage infrastructure and inspects for weaknesses, such as oversubscribed SAN switches, poor performing backup hardware or out-of-space conditions; and then recommends steps to correct the weaknesses.
However, since the exemption limit is $20,000 of taxable assessed value, residents with expensive homes are likely to see assessment increases greater than 7 percent.
Co-op operating expenses up, assessments decline considerably.
Regardless of which tool we use, it is important that assessment is play-based," says Pipkin.
Participants discussed what was meant by culture concomitantly with their discussion of the definition of career assessment.
Since then, I've experienced several similar exercises and recently began completing various assessments with Marvin S.
Thus, as long as the IRS makes a proper assessment of tax that names the person or entity that primarily is responsible for the deficiency, the assessment is considered valid for purposes of collection, even if such collection procedures are initiated against persons other than those named in the assessment.
Teachers with habitual prudence inform their students that the assessment results are to assist them with their learning, and they use a positive approach throughout the learning process.
The areas focused on in the resident assessment must reflect the multiple issues facing the resident, be they physical, mental, psychosocial, and/or environmental.
The inspiration for this effort arose from an unprecedented February 2003 request by the White House Office of Management and Budget (OMB) for public comment on risk assessment procedures across the federal government.
MPAC administers a province-wide property assessment system for the Ontario government and provides the annual assessment rolls used by municipalities to calculate property and education taxes.

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