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Assessor (property)
Tax assessment, or assessment, is the job of determining the value, and sometimes determining the use, of property, usually to calculate a property tax. This is usually done by an office called the assessor or tax assessor. Governments need to collect taxes to function. Federal, state, and local governments impose tax assessments against real property, personal property, and income. 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. There is a relationship between the assessed value and the tax liability. The higher the assessment, the higher the tax bill. In some jurisdictions, the assessed value is meant to equal the market value of a property. In other areas, the market value is mul ...
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Property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, rent, sell, exchange, transfer, give away, or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted Property rights (economics), property rights. In economics and political economy, there are three broad forms of property: private property, public property, and collective property (or ''cooperative propert''y). Property may be jointly owned by more than one party equally or unequally, or according to simple or complex agreements; to distinguish ownership and easement from rent, there is an expectation that each party's will with regard to the property be clearly defined and unconditional ...
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Property Tax
A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or Wealth tax, net wealth, taxes on the change of ownership of property through Inheritance tax, inheritance or Gift tax, gift and Financial transaction tax, taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or other Region, geographical region, or a Local government, municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted with a rent tax, which is based ...
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Chevrolet Silverado, Jeff Davis County Courthouse Parking Lot
Chevrolet ( ) is an American automobile division of the manufacturer General Motors (GM). In North America, Chevrolet produces and sells a wide range of vehicles, from subcompact automobiles to medium-duty commercial trucks. Due to the prominence and name recognition of Chevrolet as one of General Motors' global marques, "Chevrolet" or its affectionate nickname 'Chevy' or is used at times as a synonym for General Motors or its products, one example being the GM LS1 engine, commonly known by the name or a variant thereof of its progenitor, the Chevrolet small-block engine. Louis Chevrolet (1878–1941), Arthur Chevrolet (1884–1946) and ousted General Motors founder William C. Durant (1861–1947) started the company on November 3, 1911 as the Chevrolet Motor Car Company. Durant used the Chevrolet Motor Car Company to acquire a controlling stake in General Motors with a reverse merger occurring on May 2, 1918, and propelled himself back to the GM presidency. After Durant's s ...
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Local Government In The United States
Most U.S. states and territories have at least two tiers of local government: County (United States), counties and municipality, municipalities. Louisiana uses the term List of parishes in Louisiana, parish and Alaska uses the term List of boroughs and census areas in Alaska, borough for what the United States Census Bureau, U.S. Census Bureau terms county equivalents in those states. Civil townships or towns are used as subdivisions of a county in 20 states, mostly in the Northeast and Midwest. Depending on the state, local governments may operate under their own charters or under general law, or a state may have a mix of chartered and general-law local governments. Generally, in a state having both chartered and general-law local governments, the chartered local governments have more local autonomy and home rule. Municipalities are typically subordinate to a county government, with some exceptions. Certain cities, for example, have consolidated with their county government as ...
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County (United States)
In the United States, a county or county equivalent is an Administrative division, administrative subdivision of a U.S. state, state or territories of the United States, territory, typically with defined geographic Border, boundaries and some level of governmental authority. The term "county" is used in 48 states, while Louisiana and Alaska have functionally equivalent subdivisions called List of parishes in Louisiana, parishes and List of boroughs and census areas in Alaska, boroughs, respectively. Counties and other local governments in the United States, local governments exist as a matter of U.S. state law, so the specific governmental powers of counties may vary widely between the states, with many providing some level of services to civil townships, Local government in the United States, municipalities, and Unincorporated area#United States, unincorporated areas. Certain municipalities are List of U.S. municipalities in multiple counties, in multiple counties. Some municip ...
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Municipality
A municipality is usually a single administrative division having municipal corporation, corporate status and powers of self-government or jurisdiction as granted by national and regional laws to which it is subordinate. The term ''municipality'' may also mean the governing body of a given municipality. A municipality is a general-purpose administrative subdivision, as opposed to a special district (United States), special-purpose district. The English language, English word is derived from French language, French , which in turn derives from the Latin language, Latin , based on the word for social contract (), referring originally to the Latin communities that supplied Rome with troops in exchange for their own incorporation into the Roman state (granting Roman citizenship to the inhabitants) while permitting the communities to retain their own local governments (a limited autonomy). A municipality can be any political jurisdiction (area), jurisdiction, from a sovereign state s ...
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Civil Township
A civil township is a widely used unit of local government in the United States that is subordinate to a County (United States), county, most often in the northern and midwestern parts of the country. The term town is used in New England town, New England, Political subdivisions of New York State#Town, New York, as well as Political subdivisions of Wisconsin#Town, Wisconsin to refer to the equivalent of the civil township in these states; Minnesota uses "town" officially but often uses it and "township" interchangeably. Specific responsibilities and the degree of Wiktionary:autonomy, autonomy vary in each U.S. state, state. Civil townships are distinct from survey townships, but in states that have both, the boundaries often coincide, especially in Indiana, Ohio, and Illinois, and may completely geographically subdivide a county. The United States Census Bureau, U.S. Census Bureau classifies civil townships as minor civil divisions. Currently, there are 20 states with civil townshi ...
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Vermont
Vermont () is a U.S. state, state in the New England region of the Northeastern United States. It borders Massachusetts to the south, New Hampshire to the east, New York (state), New York to the west, and the Provinces and territories of Canada, Canadian province of Quebec to the north. According to the most recent U.S. Census estimates, the state has an estimated population of 648,493, making it the List of U.S. states and territories by population, second-least populated of all U.S. states. It is the nation's List of U.S. states and territories by area, sixth smallest state in area. The state's capital of Montpelier, Vermont, Montpelier is the least populous List of capitals in the United States, U.S. state capital. No other U.S. state has a List of largest cities of U.S. states and territories by population, most populous city with fewer residents than Burlington, Vermont, Burlington. Native Americans in the United States, Native Americans have inhabited the area for abou ...
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Appraiser
An appraiser (from Latin ''appretiare'', "to value") is a person that develops an opinion of the market value or other value of a product, most notably real estate. The current definition of "appraiser" according to the Uniform Standards of Professional Appraisal Practice (USPAP) is: "One who is expected to perform valuation services competently and in a manner that is independent, impartial and objective." USPAP further comments on this definition: "Such expectation occurs when individuals, either by choice or by requirement placed upon them or upon the service they provide by law, regulation, or agreement with the client or intended users, represent that they comply." To be a real property appraiser in the United States, an individual must be licensed as an appraiser by the state in which they practice. This real property appraisal license is based on a background investigation, an understanding of USPAP and compliance of all associated state laws and regulations. Appraise ...
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Claims Adjuster
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ...
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Real Estate Appraisal
Real estate appraisal, home appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). The appraisal is conducted by a licensed appraiser. Real estate transactions often require appraisals to ensure fairness, accuracy, and financial security for all parties involved. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, etc. Sometimes an appraisal report is also used to establish a sale price for a property. Factors like size of the property, condition, age, and location play a key role in the valuation. Process for Obtaining an Appraisal Appraisals are often required by lenders for issuing or refinancing a loan. In such cases, when the borrower asks the lender for a loan or a refinance, the lender will order an appraisal. Once ordered, the borrower will have to schedule an appointment with the appraiser for the in-home visit. The appraiser will visit the property, a ...
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Business Occupations
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired except for limited liability company. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. A distinction is made in law and public offices between the term business and a company (such as a corporation or cooperative). Colloquially, the terms are used interchangeably. Corporations are distinct from sole proprietors and partnerships. Corporations are separate and unique legal entities from their shareholders; as such they provide limited liability for their owners and members. Corpo ...
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