"The Quezon City Council had recently been informed that property owners in the city received letters from the City Assessor's Office saying that adjustments in the fair market values
will take into effect in January 2019.
Petitioner also contends the Virginia Constitution mandates only that assessments be at fair market value
. However, Article X 2 of the Virginia Constitution states "all assessments of real estate and tangible personal property shall be at their fair market value
, to be ascertained as prescribed by law." This phrase does not limit the General Assembly from enacting legislation surrounding the appeal by a taxpayer of a county's assessment.
Honda argues that, under the facts presented here, 'fair market value
' is no different than the auction price and, thus, its notices, which parrot the so-called safe-harbor language in Mass.
Based on this self-diagnostic test, 'OBV for mobile' provides a fair market value
of the smartphone.
In the second year and later years, the commission could be up to 35 percent of the fair market value
limit in effect during that calendar year.
This article is intended to broaden your perspective on the fair market value
standard of valuation.
This article is intended to assist in the identification of fair market value
, which I refer to as the four-faced monster.
In determining fair market value
, discounts are allowed for minority interests and lack of marketability.
It then requires that the adjusted basis of the property be allocated between the portions contributed and sold, based on their relative proportions of the property's fair market value
. (1) Gain is recognized on the sale portion to the extent the amount realized exceeds the allocated basis; however, no loss is recognized if the sale amount is less than the allocated basis of the sold portion.
The gift tax method included in the proposed regulations assumes that the tax-payer can use sales of comparable annuities to determine the fair market value
of the annuity being converted.
The sons then amended the trust income tax returns for 1990, 1991 and 1992 to reflect the Art Advisory Panel's fair market value
of $36,636,630, which increased the cost of goods sold and reduced the gain on their sale.
The "step up" in basis allows the estate holding a decedent's assets, including real property, to value the assets at their fair market value
as of the date of the decedent's death.