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What does overassessment mean?

Looking for the meaning or definition of the word overassessment? Here's what it means.

Noun
  1. The assessment of a tax or charge at a higher value than the correct one.
  2. Excessive assessment of an academic course, as by requiring too many pieces of work from each student.
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Examples
The three traditional approaches to estimating the market value of real estate can be applied to your corporation's real estate to evaluate whether an overassessment exists.
If the income approach has been applied, an overassessment may occur if nonreal estate items are included.
A value greater than 1 indicates a systematic underassessment, and a value less than 1 indicates a systematic overassessment.

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