noun \ə-ˈses-mənt, a-\

: the act of making a judgment about something : the act of assessing something

: an idea or opinion about something

: an amount that a person is officially required to pay especially as a tax

Full Definition of ASSESSMENT

:  the action or an instance of assessing :  appraisal
:  the amount assessed

Examples of ASSESSMENT

  1. It's a difficult problem that requires careful assessment.
  2. I don't agree with his assessment of the problem.
  3. The owners claimed the tax assessment on their house was too high.

First Known Use of ASSESSMENT


Other Economics Terms

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

Rhymes with ASSESSMENT


noun    (Concise Encyclopedia)

Process of setting a value on real or personal property, usually for the purpose of taxation. It is carried out either by central government agencies or by local officials. Property may be assessed on the basis of its annual rental value, as in Britain, or its capital value, as in the U.S. Various methods are used to determine capital value, including analysis of market data to estimate the property's current market price, estimation of the cost of reproducing the property minus accrued depreciation, and capitalization of the property's earnings.


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