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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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Niles and Hanover township reassessments are scheduled to be mailed Sept.
When asked about this further reassessment, a DWP spokeswoman said: "This will be a letter saying has his condition changed."
This spring, homeowners began asking how the Curran Administration actually computes property values that sit at the center of their reassessment initiative.
"This was a valuable opportunity to speak with the knowledgeable professionals who engage with local homebuyers every day, and to dispel misconceptions and discuss the real-world impacts of the reassessment. I've made it a priority to secure my Taxpayer Protection Plan to smooth out the impact of the reassessment over a period of five years.
The committee headed by Additional Secretary Ministry of Religious Affairs and Interfaith Harmony has been constituted on the directives of Islamabad High Court to address the issues of HGOs, who could not get the required marks in the reassessment process.
"Even though they have a condition that will only get worse and have qualified for the highest level of support under PIP, the DWP is adding insult to injury by forcing around half of people with Parkinson's to face stressful and unnecessary reassessments."
On November 17, 2016, the bowler underwent a reassessment of his action at the National Cricket Centre in Brisbane and was allowed to resume bowling after his action was found to be legal.
Damian Green is deliberately muddying the waters by conflating new PIP claims with reassessments. Since 2013, 51,000 people have lost access to Motability vehicles as they have been switched from DLA to PIP, and 126,300 of the 254,200 people who were eligible for funding have now lost access.
Pickering, "Shaft Tombs and Figures in West Mexican Society: A Reassessment" brings together contributions from an international team of contributors to reconnect archaeological field research on the shaft tombs of western Mexico (ca.
The review for downgrade on the long-term ratings of NBO initiated on three March 2016 is in line with the review for downgrade outstanding on Oman government's issuer rating, reflecting the potential for further decline in the government support capacity and Moody's potential reassessment of willingness of government support during the review period.
BEIRUT: Students who underwent entry examinations for the north Lebanon Bar Association held a symbolic protest Thursday outside the syndicate's building in Tripoli, demanding a reassessment of the exam results.
Prime Minister Benjamin Netanyahu, who is also the foreign minister, ordered the ministry to carry out "a reassessment of the involvement of EU bodies in everything that is connected to the diplomatic process with the Palestinians", a ministry statement said.