Market Value

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Related to Market Value: book value, fair market value

Market Value

The highest price a willing buyer would pay and a willing seller would accept, both being fully informed, and the property being exposed for sale for a reasonable period of time. The market value may be different from the price a property can actually be sold for at a given time (market price). The market value of an article or piece of property is the price that it might be expected to bring if offered for sale in a fair market; not the price that might be obtained on a sale at public auction or a sale forced by the necessities of the owner, but such a price as would be fixed by negotiation and mutual agreement, after ample time to find a purchaser, as between a vendor who is willing (but not compelled) to sell and a purchaser who desires to buy but is not compelled to take the particular article or piece of property.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

market value

n. the price which a seller of property would receive in an open market by negotiation, as distinguished from a "distress" price on a forced or foreclosure sale, or from an auction. Market value of real property is normally determined by a professional appraiser who makes comparisons to similar property sales in the area, which are often called "comparables."

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
2.2.10 Global Special Purpose Paints and Coatings Market Value by Region
"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.
The article's reasoning equates prevailing pricing with market value. "Most probable pricing" may not reflect market value when prospective marketing terms or sales do not comport with the definition in its entirety, such as with undue motivation or restrictive marketing terms often associated with distressed sales.
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.
2016: A Linthwaite three-bed house with a market value of PS100,000 was sold for just PS30,000 - a PS70,000 discount.
anomalies pointed out were of two main categories including (i) the FBR rate in some areas was fixed much higher than the overall average percentage of the fair market value and in some cases even higher than the fair market value and
- This report provides you with a breakdown of market value by type of construction activity (new construction, repair and maintenance, refurbishment and demolition).
Maximum assessed values were first set in the 1997-98 tax year, and were the property's real market value for 1995-96, minus 10 percent.
The total market value for Class 1, which consists primarily of 1-, 2-, and 3-family homes, rose 4.7 percent citywide to $415.5 billion.
The Qatar Stock Exchange scored the highest growth rate in the market value since 2008, the report, by Global Investment House (Global) stated.
The above scenario can also be analogous with the term "fair market value." In business valuation "fair market value" is a phrase used quite frequently by a host of interested parties.