Definition, Meaning & Synonyms
split-roll
Noun
/splɪt roʊl/
Definition
A term used in taxation and property assessment that refers to a method where different values are assigned to different components of a property, typically splitting the assessment of the land and the improvements (buildings) on it.
Examples
- The local government adopted a split-roll approach to ensure more equitable property taxes.
- Using a split-roll system can lead to more accurate assessments, reflecting real market values.
- Split-roll initiatives have sparked debate among property owners regarding fairness in taxation.
Meaning
The concept of assessing the land and structures on it separately in order to establish fair property taxes and assessments.
Synonyms
- assessed separation
- dual assessment
- property valuation split
