What is market value?
Market value, or full and fair cash value, is the most probable price for which a property will sell in an open, competitive market that a willing buyer will pay for a property to a willing seller, both acting knowledgeably and prudently and neither being under any obligation to buy or sell. Sales such as foreclosures and family sales are not considered to be “arms length” or fair market transactions.

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1. What is mass appraisal?
2. What is market value?
3. When my neighbor’s house sells, will their price determine my assessment?
4. How often does the valuation of properties change?
5. How is the calendar year different from the fiscal year?