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. 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 ?
Cllr Kate Dixon with the visitors before afternoon tea and below, the martial arts team with Wei-Ying Thang from Bourg-la-Reine and Gino Bonnarigo of the KTA
It has been applied to usual materials indicated in ASME, KTA and RCC-MR codes for reactor pressure vessels manufacturing.
The main particular conclusions are the following: the analyzed KTA requirements are more stringent than analyzed ASME and RCC-MR requirements.
About 30 percent to 40 percent of my beef is Big Island-produced, All my papayas and bananas are local, and not one drop of KTA's milk is from the Mainland.
There are others happy with what they're doing at KTA, so they stick with us.
KTA's strong ties to the Big Island community it serves are evident everywhere in its stores.
Over its 80-plus years of existence, KTA has successfully honed an enviable model that combines the convenience of a large all-purpose superstore with the homegrown feeling of a neighborhood mom-and-pop market.
Styrenic block copolymers supplier Kraton Performance Polymers Inc (NYSE:KRA) announced on Tuesday the initiation of a project assessment to identify options for building a new 30 Kta hydrogenated styrenic block copolymer (HSBC) plant in Asia.