Tax Assessment
/ˈtæks əˌsɛsmənt/
Definitions
- (n.) An official determination by a governmental authority of the amount of tax owed by a taxpayer.
The tax assessment showed that she owed $5,000 for the fiscal year.
- (n.) The process or act of evaluating property or income to establish a tax liability.
The local government's tax assessment process includes property inspections.
Forms
- tax assessments
Related terms
See also
Commentary
Tax assessment typically refers both to the evaluation process and the resulting determination; clarity in drafting should specify which meaning is intended.
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.