Assessor

An 'assessor' is a specialist who calculates the value of property.

The value calculated by the assessor is then used as the basis for
determining the amounts to be paid or assessed
for tax or insurance purposes.
In local government in the United States, an assessor is an
appointed or elected official charged with determining the value of
each taxable property in a county, municipality, or township; this
information is then used by the locality to determine the
necessary rate of taxation to support the community's annual
budget. (This is a specialization of the previous sense; a person
who performs similar work for a private employer is more often
called an appraiser or, specifically in the insurance industry,
an adjuster.) In Florida, this official is known as the property
appraiser. In Vermont, this office is known as a lister.
A professional organization for assessors and source for
innovation, education, and research in property appraisal,
assessment administration, and property tax policy is the
International Association of Assessing Officers.

Value - the amount of money that something is worth : the price or cost of
something.
Tax - an amount of money that a government requires people to pay
according to their income, the value of their property.
Property - a piece of land often with buildings on it that is owned by a
person, business, etc.

Market value

International Valuation Standards defines market value as "the estimated

amount for which a property should exchange on the date of valuation
between a willing buyer and a willing seller in an arms-length transaction
after proper marketing wherein the parties had each acted knowledgeably,
prudently, and without compulsion.
Market value is a concept distinct from market price, which is the price at
which one can transact, while market value is the true underlying value
according to theoretical standards. The concept is most commonly invoked
in inefficient markets or disequilibrium situations where prevailing market
prices are not reflective of true underlying market value. For market price to
equal market value, the market must be informationally efficient
and rational expectations must prevail.
Recently, Mocciaro Li Destri, Picone & Min (2012) have underscored the
subtle but important difference between the firms capacity to create value
through correct operational choices and valid strategies, on the one hand,
and the epiphenomenal manifestation of variations in stockholder value on
the financial markets (notably on stock markets). In this perspective, they
suggest to implement new methodologies able to bring strategy back into
financial performance measures.
Market value is also distinct from fair value in that fair value depends on the
parties involved, while market value does not. For example, IVS currently
notes fair value "requires the assessment of the price that is fair between
two specific parties taking into account the respective advantages or
disadvantages that each will gain from the transaction. Although market
value may meet these criteria, this is not necessarily always the case. Fair
value is frequently used when undertaking due diligence in corporate
transactions, where particular synergies between the two parties may mean
that the price that is fair between them is higher than the price that might be
obtainable in the wider market. In other words "special value" may be
generated. Market value requires this element of "special value" to be
disregarded, but it forms part of the assessment of fair value.

Market- A medium that allows buyers and sellers of a specific good or

service to interact in order to facilitate an exchange. The price that
individuals pay during the transaction may be determined by a number of
factors, but price is often determined by the forces of supply and demand.
Transaction- An agreement between a buyer and a seller to exchange
goods, services or financial instruments.
Assessment- the act of making a judgment about something : the act of
assessing something.