Recent Examples of fair market value from the Web
State law requires governments to pay fair market value when exercising eminent domain.
Louisiana law requires parish assessors to re-evaluate all property every four years to reflect changes in fair market value.
Bauman told council members that one city parcel, a parking lot, is being sold for $40,000, which reflects its fair market value.
Home equity is the difference between the home's fair market value and the outstanding balance of all liens on the property.
Anything paid above the fair market value will be a tax-deductible gift to the symphony, according to the rules on its website.
Private landowners must be reimbursed at a fair market value—though the value of property rights deep underground is unclear.
The Internal Revenue Service has ruled charities cannot give donor lists to politicians but can rent them at fair market value if made available to all candidates.
The city could wind up paying more to the property’s former owners, the Henderson Group development company and related entities, if a panel to be convened by the Delaware County Court of Common Pleas determines that its fair market value is higher.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'fair market value.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of fair market value
Financial Definition of FAIR MARKET VALUE
What It Is
Fair market value is the price at which a willing seller sells a good or service to a willing buyer.
How It Works
Let's assume John Doe wants to sell his house. He lists it for $750,000. Jane Dale wants to buy a house. She sees John's house for sale and offers him $675,000. The two negotiate the price and agree on $700,000. Because it is the price John and Jane agree to, the fair market value of the house is $700,000.
fair market value
legal Definition of fair market value
Learn More about fair market value
Britannica.com: Encyclopedia article about fair market value
Seen and Heard
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