assessment

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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 ?
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.
With the University and its commercial industrial partners contributing GBP6m of the GBP10m programme The University of Surrey's KTA aims to exploit over GBP50m of 5 and 5* rated research from our EPSRC portfolio.
The addition of Direct Store Delivery and Invoice Reconciliation helps KTA both expand its options for customer shopping and streamline its financial processes," said Lon Taniguchi, VP, Information Systems of KTA Super Stores.
The goal of KTA Group, Davis Carter Scott and Northrop Grumman is to achieve LEED[R] Silver certification.
Editor's Note: Organized in 1956, KTA is a 1,306-member umbrella organization made up of 44 hiking and outdoors organizations in and around Pennsylvania.
The economic analysis took into consideration a plant able to produce 300 kta of green ethylene.
Dow is a global capacity leader in PO and PG manufacturing, with global PO capacity of more than 2,000 KTA and global PG capacity of more than 700 KTA.
The company's global propylene oxide (PO) capacity is over 2,000 KTA, along with a global PG capacity of over 700 KTA.
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.
Besides the KTA, DCNR's Bureau of Forestry again is teaming up with the Western Clinton Sportsmen's Association (WCSA) to introduce association members and the public to the wealth of hiking opportunities found in north central Pennsylvania.
In addition, Davis is a NACE certified coating inspector and instructor, a SSPC certified CI, C2 and Protective Coating Specialist and Instructor and he holds a KTA Level II Certificate for failure and coating analysis.