What is the main purpose of the assessment process?

The assessment process primarily aims to establish taxable property values. This is essential for local governments to raise revenue necessary for funding public services such as schools, roads, and emergency services. By determining the assessed value of properties, assessors ensure that property taxes are fairly distributed based on each property's value. This process involves evaluating various factors, including property characteristics, sales data, and market conditions, to arrive at a fair and equitable valuation for taxation purposes.

In contrast, maximizing rental income, determining market trends, and facilitating property sales are related to real estate practices but do not encompass the core intent of the assessment process, which is fundamentally linked to taxation.