assess
/əˈsɛs/ · as.sess
verb
- To determine, estimate, or judge the value of; to evaluate She assessed the situation and decided to take action.
- To impose or charge, especially as punishment for an infraction A $10.00 late fee will be assessed on all overdue accounts.
- To calculate and demand (the tax money due) from a person or entity Once you've submitted a tax return, the Tax Department will assess the amount of tax you still owe.
noun
- A person who evaluates or determines the value of something The assessor will evaluate the property to determine its value for tax purposes.
Did you know? The word 'assess' is often used in the context of property valuation, where an assessor evaluates the value of a property to determine its tax liability. This process is crucial in determining the fair market value of a property.