What term describes the evaluation of property to determine its taxable value?

The term that specifically denotes the evaluation of property to determine its taxable value is assessment. In the context of property taxation, assessment refers to the systematic process carried out by taxation authorities to evaluate properties and establish their value for tax purposes. This process involves analyzing various factors such as the property’s market value, its intended use, and relevant tax laws and regulations.

While appraisal and valuation are closely related concepts, they are often used in different contexts. Appraisal generally refers to the act of determining the value of a property, typically for a specific transaction or finance-related purpose. Valuation can also mean the process of determining value but is often broader and can relate to different forms of value beyond tax purposes, such as investment or sale values.

Taxation, on the other hand, refers to the process of imposing financial charges on individuals or businesses, based on the assessed values of properties, but it does not describe the act of evaluating property itself. Therefore, assessment is the most accurate term for the evaluation of property to determine its taxable value.