Property Assessment
/ˈprɒpərti əˈsɛsmənt/
Definitions
- (n.) The process of determining the value of real estate or personal property for taxation or legal purposes.
The county conducted a property assessment to establish the tax liability for homeowners.
- (n.) An official appraisal of property value by a government or authorized entity to calculate taxes or ensure equitable distribution in legal contexts.
Disputes arose after the property assessment indicated an increase in the land's market value.
Forms
- property assessment
- property assessments
Related terms
See also
Commentary
Typically used in tax law and real estate contexts, careful drafting distinguishes the administrative valuation from legal disputes over assessed value.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.