What is the purpose of assessing properties according to "true value"?

The purpose of assessing properties according to "true value" is primarily to ensure equitable tax distribution. Assessing properties at their true market value allows for fair taxation based on the actual worth of the property, which in turn ensures that tax burdens are distributed fairly among property owners. When properties are assessed accurately, it helps maintain equity in the tax system by reflecting each property's contribution to the overall tax base.

Establishing market trends and increasing property value may be beneficial outcomes of accurate assessments, but they are not the main goal of property assessment. The focus is primarily on fair taxation rather than market analysis or driving property values up. Similarly, limiting tax assessments is not a purpose of assessing properties at true value; instead, fair and transparent assessments aim to create a balance in the property's contribution to the tax system.