{"id":428,"date":"2021-03-01T14:05:08","date_gmt":"2017-01-22T22:05:52","guid":{"rendered":"http:\/\/legaldictionary.lawin.org?p=428"},"modified":"2021-03-01T14:05:08","modified_gmt":"2017-01-22T22:05:52","slug":"assessment","status":"publish","type":"post","link":"https:\/\/legaldictionary.lawin.org\/assessment\/","title":{"rendered":"Assessment"},"content":{"rendered":"

Legal Definition and Related Resources of Assessment<\/h1>\n
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Meaning of Assessment<\/h3>\n<\/div>\n

The act or process<\/a> of fixing or ascertaining the value<\/a> , measure<\/a> or proportion<\/a> or interest<\/a> of any thing or person<\/a> . In relation<\/a> to corporations, the term may refer to shares of the corporation<\/a> which have been rightfully subscribed for by the shareholder<\/a> or on which the shareholder still<\/a> owes all or part of the consideration<\/a> . If the shares have been paid for, the term assessment relates to a levy made upon such shares for the purpose of correcting a deficiency<\/a> of the capital<\/a> and refers to the proportionate amount<\/a> required to be paid by each stockholder<\/a> . If the shares remain unpaid for, the term means<\/a> either call or an installment. In relation to fiscal statutes, the term in its large sense denotes taxation<\/a> in general<\/a> , the authoritative imposition of rate or duty to be paid. However its technical<\/a> sense is that of a taxation for a special purpose or local<\/a> improvement<\/a> , based upon principles of apportionment<\/a> according to the relation a specific property<\/a> bears to the burden of the tax and the benefit<\/a> it derives from the purpose for which the tax is imposed. A special assessment<\/a> is a local burden laid upon land made for a public<\/a> purpose and fixed with reference<\/a> to the special benefit which such property derives from the cost of the project in question<\/a> . See Krumpelman v Louisville and Jefferson county<\/a> Metropolitan sewer<\/a> district<\/a> , (Ky.), 314 S. W.2d557.
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Assessment Alternative Definition<\/h3>\n<\/div>\n

Determining the value of a man’s property or occupation for the purpose of levying a tax. Determining the share of a tax to be paid by each individual. Laying a tax. Adjusting the shares of a contribution by several towards a common beneficial object, according to the benefit received. The term is used in this latter sense in New York, distinguishing some kinds of local taxation, whereby a peculiar benefit arises to the parties, from general taxation. 11 Johns. (N. Y.) 77; 3 Wend. (N. Y.) 263; 4 Hill (N. Y.) 76; 4 N. Y. 419. Of Damages. Fixing the amount of damages to which the prevailing party in a suit is entitled. It may be done by the court through its proper officer, the clerk or prothonotary, where the assessment is a mere matter of calculation, but must be by a jury in other cases. See “Damages.” In Insurance. An apportionment made in general average upon the various articles and interests at risk, according to their value at the time and place of being in safety, for contribution for damage and sacrifices purposely made, and expenses incurred for escape from impending common peril. 2 Phil. Ins. c. 25.
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Synonyms of Assessment<\/h3>\n<\/div>\n

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(Estimation), noun <\/em><\/h4>\n