Full Market Value
- 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.
full cash value, full value, absolute market 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,
- The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
- A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
- 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 estimation of a property's price value through an appraisal.
- The process of finding the worth of an asset or business.