An assessor is a person whose job involves determining how much a house or building is worth. After an assessor establishes the value of a property, it can be taxed appropriately. In some locations, a tax assessor holds a separate role from a tax collector.
In some areas, the local tax assessor’s office is responsible for handling property taxes on vehicles, along with other responsibilities such as vehicle registration and titling. An assessor generally refers to a tax official who determines the taxable value of real estate or personal property. An assessor often works at the local level, such as in a municipality or county, but also might follow state laws for assessing property values.
An assessor is a local government official who determines the value of a property for local real estate taxation purposes. The figures assessors derive are used to calculate future property taxes. The assessor estimates the value of real property within a city or town’s boundaries. This value is converted into an assessment, which is one component in the computation of real property tax bills. An assessor is someone who assesses property values for tax purposes.
Words Near Assessor in the Dictionary
A tax assessor might also determine the value of physical property such as boats or business equipment. Other types of personal property like cars, for example, might sometimes be taxed at the state level via the vehicle registration process. An assessor, sometimes called a “tax assessor,” works for a city or county, aiding the process of collecting taxes from people who own property there. In order to figure out how much someone owes, an assessor compares the person’s house to the others in the neighborhood and tallies up things like square footage, number of rooms, and acres of land. In Latin an assessor is “an assistant,” though in Late Latin it means “one who assesses taxes.”
Fair market value refers to the price that would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances. Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. A person whose job is to officially say how well someone has done on a test, in a competition, etc. Close your vocabulary gaps with personalized learning that focuses on teaching the words you need to know. Professors acted as external assessors of the exam results. College lecturers acted as external assessors of the exam results.
Assessor’s Office
Then this person has to get a basic certification within three years of taking office, although assessors in some states are not required to obtain basic certification. Any delinquent tax amounts will accrue 7 percent http://fraoc.ru/pocit341.htm in interest by Feb. 1 and will increase every month until the account is paid in full, said Bexar County tax assessor-collector Albert Uresti. The county assessor appraised the 0.80-acre property at 3511 W.
- Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company.
- Understanding what an assessor is can help you figure out who’s responsible for determining the taxable value of real or personal property.
- That means that even if the current homeowner remains in the home as opposed to a transaction taking place, the assessed value can change based on market conditions.
- Computer application software is considered an intangible asset and is not assessable.
- In this research, a monitor system is adopted as an assessor.
To charge with a special payment, such as a tax or fine. To determine the value, significance, or extent of; appraise. American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. A person who judges how well someone has done in an exam, a competition, etc. A person who judges how well somebody has done in an exam, a competition, etc.
Needs to review the security of your connection before proceeding. S undervaluing homes, particularly at the high end of the market, where prices often rise most rapidly. Assigns the homes an identical value, which turns out to be higher than the price the poorly maintained home could bring on the market, and lower than the true market value of the improved home. A person who shares another’s position, rank, or dignity.
Quiz
The arrangement is so complicated and arcane that the Santa Clara County assessor has an entire page devoted to Stanford faculty housing. Built by the Krebses in 2003, the 9,217-square-foot mansion on Walden Road has a value of $5.96 million, according to the Lake County assessor. Add assessor to one of your lists below, or create a new one. The students were made aware that, when they assumed the role of assessor, they would be given credit for asking appropriate questions.
The other township officials are the clerk, treasurer, assessor, supervisor of roads, justices of the peace, constables, board of education and board of health. A person who sets valuations, as on property, for taxation. Assessors estimate taxable as well as fair market value based on several objective and subjective measures. To estimate officially the value of for tax purposes. Property owners then had a three-week period to contest these assessments through the assessor.
Quoth Ali, “So be it;” whereupon the merchant fetched an assessor from the Kazi’s court and, taking the prescribed acknowledgment, delivered to him the key wherewith he entered the house. Help support Wordnik (and make this page ad-free) by adopting the word assessor. Noun In some universities, as the Scotch, the title of the elected members of the university court or supreme governing body of the university. Definition and synonyms of assessor from the online English dictionary from Macmillan Education.
Timothy has helped provide CEOs and CFOs with deep-dive analytics, providing beautiful stories behind the numbers, graphs, and financial models. Copyright © 2013, 2014 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
These valuations are made by a county appraisal district, and the county tax assessor-collector is then ultimately responsible for assessing and collecting the taxes. For example, if you think there has been an error in the assessed value of your home, you might want to contact the local tax assessor’s office to see if you can get your home reassessed. Otherwise, you might pay more in property taxes than you should. Or you might want to contact your local tax assessor for ways to lower your property tax liability, such as via the homeowner’s exemption. In the role of tax assessor, an official determines the taxable value of property, which can be real property such as houses or buildings, or it could be personal property such as boats or planes. The way in which an assessor values real or personal property can depend on local or state laws.
Later the Roman government “farmed out” the taxes of the provinces. Assessment Notice– A written notice to the property owner of the assessed value of certain properties described in the notice. Law mandates that notice be given to the property owner following a revaluation of the property.
A system is creative in the opinion of an assessor if, according to the assessor, the system sufficiently often produces creative results. The same assessor may later consider the result to be creative after all, after s 0 he has acquired an understanding of it. In this research, a monitor system is adopted as an assessor. The assessor stated that the fire damage was not as severe as the hotel’s owner had claimed.
An adviser or assistant to a judge, especially one serving as a specialist in some field. The largest portion of the mall the city is seeking to take covers 2.7 million square feet of land, according to the Cook County assessor. If a swallow remains unsafe or the assessor is uncertain at 48 hours then the patient should be referred to a speech and language therapist. The scientific assessor was asked to testify in court. An assessor sent on behalf of the insurance company examined the damage on December 15. In the role of assessor, the tester examines each candidate’s writing to determine its strengths and areas of weakness.
Wordmap
The other county officers are a clerk, a treasurer, an auditor, an assessor, an attorney, an engineer, a sheriff, a coroner and a superintendent of public schools, each elected for a term of two years. Appointed assessors are required to complete an average of 12 credits of continuing education annually. Certification for assessors varies across municipalities. In New York State, for example, a person becomes an assessor first by appointment or election.
An assessor typically refers to someone elected or appointed who determines property valuations for tax purposes. Noun An assistant to a judge or magistrate, usually selected for special knowledge in a particular area. Noun An official who evaluates property for taxation.
A civil servant entrusted with checking the veracity of data and criteria used by a taxpayer to complete a tax return. Find similar words to assessor using the buttons below. The trustees are elected for a term of three years, the clerk and assessor for two years. Will conduct local visits and will gather information on patients’ experience of the doctor’s service.
We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. It is the highest price a property would bring if it were for sale on the open market for a reasonable period of time. Many sales occur at prices other than what is considered the fair market value.
They are a government official who is elected or appointed, depending on the location, to determine the taxable value of real estate or personal property such as a house or a boat. In other locations, a tax assessment on real estate might look different. In Texas, real estate property taxes are typically based on the market value of a home. That means that even if the current homeowner remains in the home as opposed to a transaction taking place, the assessed value can change based on market conditions.
Vocabulary lists containing assessor
Fair market value is the price of an asset when buyer and seller have reasonable knowledge of it and are willing to trade without pressure. Taxes are a mandatory contribution levied on corporations or individuals to finance government activities and public services. Assessors are trained to determine the fair market value of property.
Tangible Property – This is the combination of real property and business personal property. Noun One who assesses a property for tax or insurance evaluation. An assistant to a judge or magistrate, usually selected for special knowledge in a particular area. An ad valorem tax is a tax derived from the value of real estate or personal property. Willis was referring to the county tax assessor and collector’s offices. The responsibilities of a tax assessor can vary based on local and state laws.
