The assessment roll is the official registry listing all taxable properties in a municipality along with their assessed values and property classifications. This comprehensive record forms the foundation for calculating property taxes—the municipality applies its tax rate to the total assessment roll value to determine how much revenue will be collected. Assessment rolls are typically finalized annually after the assessment authority completes valuations and appeal processes conclude. The roll includes each property's legal description, owner information, assessed value, and property class (residential, commercial, industrial, etc.), enabling accurate and equitable tax distribution.