Which of the following is NOT a component of the property assessment process?

The property assessment process primarily involves evaluating the value of real estate to determine property taxes. This process includes components such as property inspection, where assessors physically inspect properties to gather accurate data about the condition and features of the property. Property classification is another crucial element, which involves categorizing properties based on their use, such as residential, commercial, or industrial, and helps in determining their value appropriately.

Property depreciation schedules, which assess the reduction in property value over time due to wear and tear or other factors, also play a role in reflecting a property's current value in assessments. These components are integral to forming an accurate assessment that reflects the market value for taxation purposes.

Property tax collection, on the other hand, is a subsequent step that takes place after the assessment process is completed. It involves the administration and collection of taxes based on the assessed values but does not form a part of the assessment process itself. Therefore, this option is not considered a component of the property assessment process, distinguishing it from the other choices that are essential steps in determining property value.