What is the determination of the value of a property specifically for tax purposes called?

The correct term for the determination of a property's value specifically for tax purposes is "assessment." An assessment is carried out by a government authority, typically the local tax assessor’s office, to establish the value of a property, which then serves as the basis for property tax calculations.

This process involves examining various factors such as the property’s location, size, condition, and recent sales of similar properties in the area. The goal is to ensure that property taxes reflect the current market conditions and fair market value of the property.

In contrast, an evaluation usually refers to a more general examination of a property's worth and is not specifically tied to tax values. Market analysis involves comparing similar properties to estimate current market value, primarily for buying and selling purposes, rather than for tax-related evaluations. An appraisal, while it does assess value, is typically completed by a licensed appraiser for various purposes, including financing and sales, rather than for tax determinations specifically. Thus, assessment is the precise term used in the context of property taxes.