overassessment

noun over·as·sess·ment \ ˌō-vər-ə-ˈses-mən , -a- \
Updated on: 15 Nov 2017

Definition of overassessment

plural overassessments
:the act or an instance of assessing something (such as a property) at too high a rate, amount, or value :improperly high assessment
  • If anyone has had to sell their [condo] units for a loss, that has … to do with speculation, and overassessment of what the units were actually worth.
  • —Brent Toderian
  • Appeals coming from the neighborhood are expected to alert the tax assessor to the neighborhood's overassessment, causing assessments to be lowered in the following year.
  • —Keith R. Ihlanfeldt
  • … made an error in its measurements of the … property, which resulted in an overassessment of about $24 million.
  • —Damon Lawrence

overassess

play \ˌō-vər-ə-ˈses, -a-\ transitive verb, overassessed; overassessing
    • Experts estimate that between 30 to 60 percent of taxable property is overassessed.
    • —Barry Sharpe
    • … the properties of some predominantly minority school districts were overassessed an average of 27 percent …
    • —Matt Clark
    • … a large condo tower full of overassessed units.
    • —Aaron Elstein

First Known Use of overassessment

1644


Seen and Heard

What made you want to look up overassessment? Please tell us where you read or heard it (including the quote, if possible).

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!

WORD OF THE DAY

marked by intense feeling

Get Word of the Day daily email!

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!