property assessment
nounUK /ˈprɒpəti əˈsesmənt/
US /ˈprɑːpərti əˈsesmənt/
A property assessment is when someone checks how much a house or land is worth.
The town did a property assessment to decide how much tax the family should pay.
OTHER MEANINGS
2. An official check of a building to see if it is safe and in good condition.
The landlord ordered a property assessment before renting out the apartment.
3. A written report that says how much a property is worth.
The bank asked for a property assessment before giving the loan.
4. The process of figuring out how much money a piece of land or a building could sell for.
The property assessment showed the house was worth more than last year.