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LSDefine

Simple English definitions for legal terms

assessment ratio

Read a random definition: Full Faith and Credit Clause

A quick definition of assessment ratio:

Assessment Ratio: The assessment ratio is a number used to determine how much a property is worth for tax purposes. It is the ratio of the assessed value of a property to its fair market value. The assessed value is the value assigned to a property by the government for tax purposes, while the fair market value is the price that a property would sell for on the open market. The assessment ratio is used to calculate property taxes, with higher ratios resulting in higher taxes.

A more thorough explanation:

An assessment ratio is a term used in property taxation to refer to the ratio of the assessed value of a property to its fair market value. The assessed value is the value assigned to a property by the local government for tax purposes, while the fair market value is the estimated value of the property if it were to be sold in an open market.

For example, if a property has an assessed value of $100,000 and a fair market value of $200,000, the assessment ratio would be 50% ($100,000/$200,000).

The assessment ratio is used to determine the amount of property tax that a property owner is required to pay. In some states, the assessment ratio is fixed by law, while in others it may vary depending on the type of property or its location.

Assessment ratios are important because they ensure that property owners are paying their fair share of taxes based on the value of their property. They also help to prevent overtaxation or undervaluation of properties.

assessment fund | assessment roll

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9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
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