unit assessment

unit assessment
A separate assessment for taxation of parts or parcels of land belonging to the same owner. 51 Am J1st Tax § 686. The assessment for taxation of the property of transportation and communication companies owning, or operating upon, it continuous line of property, such as tracks or wires, extending into or through several states, or several Counties or other taxing districts of a single state, as a homogenous unit representing a single profit-earning business, as an alternative to assessing separately so much of the line as lies within the state or smaller taxing unit in question, assuming that such portion of the entire assessment representing the share referable to the particular taxing district in question is set aside by a proper and reasonable method of apportionment 51 Am J1st Tax § 877. See unit valuation rule.

Ballentine's law dictionary. . 1998.

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