n. The act of assessing, determining, or adjusting the amount of taxation, charge, damages, etc., to be paid by an individual, a company, or a community.n. The amount so determined; the tax or specific sum charged upon a person or property: as, an assessment upon stockholders to pay corporate debts.n. An official valuation of property, profits, or income, for purposes of taxation.n. The value thus ascertained or assigned.n. In marine insurance, the fixing of that part of a loss which saved property must bear to compensate for property voluntarily sacrificed to prevent a total loss.