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The word tax assessment is used in different ways, but often refers to a tax liability owed by a taxpayer. In the case of property, a tax assessment is an evaluation or an estimate of value that is typically performed by a tax assessor. The assessment leads to an "assessed value," which is a base number used in the calculation of the property tax.
Tax assessors for taxing jurisdictions are generally responsible for determining property values. The determination of values and calculation of tax is generally performed by an official referred to as a tax assessor. Property owners have rights in each jurisdiction to declare or contest the value so determined.
Tax assessors for taxing jurisdictions determine property values in a variety of ways, but are generally required to base such determinations on fair market value. [12] Fair market value is that price for a willing and informed seller would sell the property to a willing and informed buyer, neither being under any compulsion to act.
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Here are the candidates for Tarrant County tax assessor-collector in the Nov. 5 election. Cody Copeland. October 11, 2024 at 5:02 PM. Madeleine Cook/Star-Telegram.
A tax collector at work – from an illustration by Henry Holiday in Lewis Carroll's The Hunting of the Snark (1876). A tax collector (also called a taxman) is a person who collects unpaid taxes from other people or corporations on behalf of a government. The term could also be applied to those who audit tax returns or work for a revenue agency.
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