Blacks Law Dict. 1st ed

ASSESSMENT

96

ASSETS

state tax, and contains a proviso that "no other tax or impost shall be levied or assessed upon the said company," the word "assessed" in the proviso cannot have the force and meaning of describing special levies for pub lic improvements, but is usedjmerely to de scribe the act of levying the tax or impost. 42 N. J. Law, 97. ASSESSMENT. In a general sense, de notes the process of ascertaining and adjust ing the shares respectively to be contributed by several persons towards a common benefi cial object according to the benefit received. In taxation. The listing and valuation of property for the purpose of apportioning a tax upon it, either according to value alone or in proportion to benefit received. Also determining the share of a tax to be paid by each of many persons; or apportioning the entire tax to be levied among the different taxable persons, establishing the proportion due from each. Assessment, as used in juxtaposition with taxa tion in a state constitution, includes all the steps necessary to be taken in the legitimate exercise of the power to tax. 4 Neb. 836. Assessment is also popularly used as a syn onym for taxation in general,—the authori tative imposition of a rate or duty to be paid. But in its technical signification it denotes only taxation for a special purpose or local improvement; local taxation, as distinguished from general taxation; taxation on the prin ciple of apportionment according to the rela tion between burden and benefit. As distinguished from other kinds of taxation, assessments are those special and local impositions upon property in the immediate vicinity of munic ipal improvements which are necessary to pay for the improvement, and are laid with reference to the special benefit which the property is supposed to have derived therefrom. 29 Wis. 599. Assessment and tax are not synonymous. An assessment is doubtless a tax, but the term implies something more; it implies a tax of a particular kind, predicated upon the principle of equivalents, or benefits, which are peculiar to the persons or property charged therewith, and which are said to be assessed or appraised, according to the meas ure or proportion of such equivalents; whereas a simple tax is imposed for the purpose of support ing the government generally, without reference to any special advantage which may be supposed to accrue to the persons taxed. Taxes must be levied, without discrimination, equally upon all the subjects of property; whilst assessments are only levied upon lands, or some other specific prop erty, the subjects of the supposed benefits; to re pay which the assessment is levied. 1 Handy, 464. In corporations. Instalments of the money subscribed for shares of stock, called for from the subscribers by the directors, from time to time as the company requires money,

are called "assessments," or, In England, "calls." The periodical demands made by a mutual insurance company, under its charter and by laws, upon the makers of premium notes, are also denominated "assessments." Of damages. Fixing the amount of dam ages to which the successful party in a suit is entitled after an interlocutory judgment has been taken. Assessment of damages is also the name given to the determination of the sum which a corporation proposing to take lands for a public use must pay in satisfaction of the de mand proved or the value taken. In insurance. An apportionment made in general average upon the various articles and interests at risk, according to their value at the time and place of being in safety, for contribution for damage and sacrifices pur posely made, and expenses incurred for es cape from impending common peril. 2 Phil. Ins. c xv. ASSESSOR. An officer chosen or ap pointed to appraise, value, or assess property. In civil and Scotch law. Persons skilled in law, selected to advise the judges of the inferior courts. Bell; Dig. 1, 22; Cod. 1, 51. A person learned in some particular science or industry, who sits with the judge on the trial of a cause requiring such special knowl edge and gives his advice. In England it is the practice in admiralty business to call in assessors, in cases involv ing questions of navigation or seamanship. They are called "nautical assessors," and are always Brethren of the Trinity House. ASSETS. In probate law. Property of a decedent available for the payment of debts and legacies; the estate coming to the heir or personal representative which is charge able, in law or equity, with the obligations which such heir or representative is required, in his representative capacity, to discharge. In an accurate and legal sense, all the personal property of the deceased which is of a salable nat ure, and may be converted into ready money, is deemed assets. But the word is not confined to such property; for all other property of the de ceased which is chargeable with his debts or lega cies, and is applicable to that purpose, is, in • large sense, assets. 1 Story, Eq. Jur. { 531. Assets per descent. That portion of the an cestor's estate which descends to the heir, and which is sufficient to charge him, as fai as it goes, with the specialty debts of his an cestors. 2 Williams, Ex'ra, 1011.

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