Full Market Value

Definition

  • In reference to property taxes, refers to the tax rate that is applied to 100 percent of the property's value. Also known as full cash value.

Synonyms
full value, absolute market value, full cash value

Related Terms and Acronyms

  • Actual Cash Value (ACV) Acronym,
    • The replacement cost of an insured asset with depreciation accounted for.
    • The amount of money that a broker or dealer has invested in the purchase and repair of a used vehicle.
  • Appraised Value Definition,
    • An educated opinion of how much a property is worth.
  • Blue Book Definition,
    • Formally, it refers to the Kelley Blue Book, an industry guide dealers use to estimate wholesale and retail vehicle pricing.
  • Book Value Definition,
    • A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
    • The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
  • Current Market Value (CMV) Acronym,
    • The estimated price determined by the recent sale of similar properties.
  • Fair Market Value (FMV) Acronym, Very Important,
    • The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
  • Illiquid Asset Definition,
    • An asset that cannot be sold easily or in a timely manner for its full value.
  • Intangible Asset Definition,
    • Non-physical resources or rights to other assets. Patents, goodwill, permits and computer programs are examples of intangible assets.
  • Intangible Property Definition,
    • Property that does not have value itself, but represents something else. Stocks, bonds and franchises are examples of intangible property. Business furniture and equipment are examples of tangible personal property.
  • Market Value (MV) Acronym, Important,
    • Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
  • Property Value Definition,
    • The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • Purchase Price Definition,
    • The total selling price of the home, including the cash down payment and the principal on the loan.
  • Sales Tax Definition,
    • Federal and / or provincial taxes that are applied to purchases.
  • Valuation Definition,
    • The process of finding the worth of an asset or business.
    • The estimation of a property's price value through an appraisal.
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