Actual Cash Value

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Actual Cash Value

The fair or reasonable cash price for which a property could be sold in the market in the ordinary course of business, and not at forced sale. The price it will bring in a fair market after reasonable efforts to find a purchaser who will give the highest price. What property is worth in money, allowing for depreciation. Ordinarily, actual cash value, fair market value, and market value are synonymous terms.

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While as a percentage this would create different actual cash values, it would also prevent unearned increases going to the rich.
Establish replacement cost and actual cash values for contents items