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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Full Market Value


Synonyms:absolute market value, full cash value, full value
Filed Under: real-estate, taxation
Tags: realty
 

Definition of full market value

full market value
1. 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.

Related Terms and Acronyms:

  • actual cash value (ACV)   The replacement cost of an insured asset with depreciation accounted for.
  • appraised value   An educated opinion of how much a property is worth.
  • fair market value (FMV)   The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
  • illiquid asset   An asset that cannot be sold easily or in a timely manner for its full value.
  • intangible asset   Non-physical resources or rights to other assets. Patents, goodwill, permits and computer programs are examples of intangible assets.
  • intangible property   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)   Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • sales tax   Federal and / or provincial taxes that are applied to purchases.
  • valuation   The estimation of a property's price value through an appraisal.

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