verb \ə-ˈses, a-\

: to make a judgment about (something)

: to officially say what the amount, value, or rate of (something) is

: to tax or charge (someone or something) : to require (a person, business, etc.) to pay a particular amount of money

Full Definition of ASSESS

transitive verb
:  to determine the rate or amount of (as a tax)
a :  to impose (as a tax) according to an established rate
b :  to subject to a tax, charge, or levy
:  to make an official valuation of (property) for the purposes of taxation
:  to determine the importance, size, or value of <assess a problem>
:  to charge (a player or team) with a foul or penalty
as·sess·able \-ˈse-sə-bəl\ adjective

Examples of ASSESS

  1. After the hurricane, officials assessed the town's need for aid.
  2. We need to assess whether or not the system is working.
  3. Damage to the boat was assessed at $5,000.
  4. The company was assessed $12 million in fines for polluting the river.
  5. Cornell graduate student James Tanner spent three years in the early 1940s slogging southern swamps and bayous to assess where and how the species could be saved. By his reckoning, no more than twenty-four ivory-bills remained in the entire Southeast. —John Terborgh, New York Review of Books, 26 Apr. 2007

Origin of ASSESS

Middle English, probably from Medieval Latin assessus, past participle of assidēre, from Latin, to sit beside, assist in the office of a judge — more at assize
First Known Use: 15th century

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer


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