Which of the following is NOT one of the eight basic functions carried out by the assessor?

The correct response identifies "Funding allocation" as not one of the eight basic functions performed by an assessor. The primary responsibilities of an assessor revolve around property assessment activities, which include detailed inventorying of property, estimating the market value of various types of property, and defending value estimates during appeals processes.

Inventorying property involves collecting data on all taxable personal property, ensuring that accurate records are maintained for the valuation process. The estimation of market value is a fundamental duty, where assessments reflect the fair market value of properties, which forms the basis for property taxation. Defending assessed values during appeals is also essential, as assessors must justify their valuations when property owners contest them.

In contrast, funding allocation pertains more to budgetary and fiscal management decisions that fall outside the purview of an assessor's typical functions, which are primarily focused on assessment rather than the broader financial planning and resource distribution concerns. This distinction clarifies why "Funding allocation" does not fit with the core duties expected of an assessor in the context of property assessment.