What is the primary focus of property assessment?

The primary focus of property assessment is the determination of taxable value. Property assessment is a process conducted by local government agencies to evaluate properties for taxation purposes. The goal is to establish a value that reflects the property's worth for tax revenue generation, rather than simply estimating its market value or assessing specific types of properties like commercial buildings.

While estimation of market value is an important aspect of property assessment, it is not the central purpose; rather, it is a means to determine the taxable value. The taxable value will help convey how much property tax a property owner will owe. This is crucial for funding local services, such as schools, infrastructure, and public safety.

The other options, such as appraising commercial buildings and analyzing property rental income, represent specific segments within the broader field of real estate but do not encapsulate the overall purpose of property assessment. These activities may contribute to understanding a property’s market position or investment potential but are not primary focuses of assessment itself, which is mainly concerned with establishing a basis for taxation.