What is the main purpose of property assessments?

The main purpose of property assessments is to ensure equitable taxation among property owners. Assessors evaluate properties to determine their market value, which is critical for fair distribution of property tax burdens. An accurate assessment helps to guarantee that property owners pay taxes relative to the value of their property, thereby promoting fairness in funding local government services such as schools, public safety, and infrastructure. This process helps prevent disparities where some property owners might bear a heavier tax burden than others with similarly valued properties, contributing to a more just taxation system.

While other options refer to valuable activities related to property ownership, such as informing sales or evaluating investments, they are secondary to the primary function of property assessments, which is rooted in taxation and equity.