Property assessment is the process of determining the value of a property for various purposes, such as taxation, sales, or development. This evaluation considers factors like the location, size, condition, and market trends. Assessors use this information to establish a fair value that reflects the property's worth in the current market. The results of a property assessment are crucial for both homeowners and local governments. For homeowners, it helps in understanding their property taxes and potential selling price. For local governments, accurate assessments ensure that tax revenues are collected fairly, supporting community services and infrastructure.