What basis is used to assess properties in a jurisdiction for taxation?

The annual assessment roll is the foundation for assessing properties in a jurisdiction for taxation purposes. This document compiles all the properties within the jurisdiction, detailing their estimated values and ownership information. It ensures that each property is accounted for in the tax system and provides a systematic approach to property assessment that aligns with statutory requirements.

This process typically involves evaluating various characteristics of each property, such as its location, size, condition, and any improvements made to it. By relying on the annual assessment roll, tax authorities ensure that they have a comprehensive and up-to-date record necessary for determining property tax liabilities fairly and equitably across the jurisdiction.

The other options relate to financial statements or reports that are typically not used directly for property tax assessments. Total revenue reports highlight broader financial performance but do not focus specifically on property values. Income statements review revenue and expenses, and balance sheet analysis considers assets and liabilities, neither of which pertains to property assessment as directly as the annual assessment roll.