the act of assessing; the act of determining an amount to be paid; as, an assessment of damages, or of taxes; an assessment of the members of a club.-a valuation of property or profits of business, for the purpose of taxation; such valuation and an adjudging of the proper sum to be levied on the property; as, an assessment of property or an assessment on property.-the specific sum levied or assessed.-an apportionment of a subscription for stock into successive installments; also, one of these installments (in england termed a "call").