Assessor

Filed Under »
Dictionary Says

Definition of 'Assessor'

A local government official who determines the value of a property for local real estate taxation purposes. Assessors are trained to determine the fair market value of property. The figures that they derive will be used to calculate future property taxes. The assessor estimates the value of real property within a city, town or village's boundaries. This value is converted into an assessment, which is one component in the computation of real property tax bills.

These government officials maintain assessments at a uniform percentage of market value annually. An assessor signs an oath to this effect when certifying the tentative assessment roll. The assessment roll is a document containing each property assessment. Each year, assessors are required to keep current the physical description (or inventory) and value estimate of every parcel.
Investopedia Says

Investopedia explains 'Assessor'

For example, to become an assessor in New York State, a person has to get a basic certification within three years of taking office. Assessors in some states are not required to obtain basic certification. The certification requires successful completion of orientation, three assessment administration course components and five appraisal components, including farm appraisal for certain agricultural communities. The New York State Office of Real Property Tax Services (ORPTS) sets the components. Appointed assessors are required to complete an average of 24 hours of continuing education.

Articles Of Interest

  1. Tax Tips For The Individual Investor

    We give you seven guidelines to help you keep more of your money in your pocket.
  2. 5 Tricks For Lowering Your Property Tax

    Find out what steps you can take to reduce your bill.
  3. When You Can't Pay Uncle Sam

    If you can't pay your taxes, there are some steps you can take to protect yourself. Discover your options here.
  4. To Rent Or Buy? The Financial Issues

    Thinking of buying a home? We look at the initial and ongoing costs as well as the so-called benefits.
  5. Cut Your Tax Bill

    Paying your bills early or giving an extra donation now can help you come tax time.
  6. Investing In Property Tax Liens

    Property tax liens can be a viable investment alternative for experienced investors that are familiar with the real estate market.
  7. 6 Tax Deductions That Might Get You Audited

    Incorrect or liberal interpretations of what you can write off will often lead to the IRS taking closer interest in your filings. Knowing the rules behind these six tax deductions will go a long ...
  8. Reasons Renting Is Better Than Buying

    Owning a home is much more expensive than renting. Here are the places where the costs differ greatly.
  9. How Property Taxes Are Calculated

    Understanding how property taxes work will ensure that you won't be overcharged.
  10. Why Monopoly Is A Terrible Finance Teacher

    With its plethora of inaccuracies, Monopoly doesn't offer the best lessons in real-world finance.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.
  2. Xenocurrency

    A currency that trades in markets outside of its domestic borders.
  3. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.
  4. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.
  5. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.
  6. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=38506b6547d16e2128d8ad437b2fa53f