the act of assessing; appraisal; evaluation.
an official valuation of property for the purpose of levying a tax; an assigned value.
an amount assessed as payable.

1530–40; assess + -ment

misassessment, noun
overassessment, noun
proassessment, adjective
reassessment, noun
self-assessment, noun Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
assessment (əˈsɛsmənt)
1.  the act of assessing, esp (in Britain) the evaluation of a student's achievement on a course
2.  an amount determined as payable
3.  a valuation set on taxable property, income, etc
4.  evaluation; estimation

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

c.1540, "value of property for tax purposes," from assess + -ment. Meaning "determination or adjustment of tax rate" is from 1540s; general sense of "estimation" is recorded from 1620s.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary

assessment definition

The appraisal of property for the purposes of taxation.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
But he relied on his own assessment of those needs.
Together, they have compiled an assessment of the effects of mental illness on
  patients' families.
I'd have to disagree with your assessment.
Harsh as that assessment may be, it seems about right.
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