What is a property tax assessment used for?

A property tax assessment is primarily used for evaluating a property's value. This process involves determining the market value of a property to establish its taxable value, which directly impacts how much property tax the owner is required to pay.

When a local government conducts an assessment, they consider various factors such as the property's size, location, condition, and any improvements made to it. This valuation is essential for ensuring that property taxes are fairly levied based on the actual worth of the property within the local real estate market.

Determining property age, calculating rental income potential, and assessing the structural safety of a building do not directly contribute to the tax assessment process. These factors might be relevant for other purposes, such as appraisals or inspections, but they do not serve as the main basis for property tax calculations. Therefore, the correct answer focuses specifically on the core function of property tax assessments.