fair market value

noun

Definition of fair market value

: a price at which buyers and sellers with a reasonable knowledge of pertinent facts and not acting under any compulsion are willing to do business

Examples of fair market value in a Sentence

Recent Examples on the Web Prescott hoped this offseason to land a deal that would pay him fair market value. Mike Jones, USA TODAY, "Opinion: Jerry Jones has plenty to set right with Dak Prescott after Cowboys QB's injury," 12 Oct. 2020 This amendment would allow parish assessors to take a well’s oil and gas production into account when assessing its fair market value. NOLA.com, "Gambit's Nov. 3 endorsements: ballot propositions," 5 Oct. 2020 This applies to tangible assets—such as factories—and intangible assets such as brands or goodwill, which is created when one company buys another for a price higher than the fair market value of its assets. Mark Maurer, WSJ, "Company Write-Downs Surge as Business Slows During Covid-19," 19 Aug. 2020 The task force and/or counties would then be required to pay Boyce fair market value for the properties. Keith Matheny, Detroit Free Press, "EGLE: Owner of failed Midland dams not letting us assess remaining danger," 6 Aug. 2020 Some of the flyable planes had a fair market value exceeding $3 million. Josh Kovner, courant.com, "Collings Foundation, owner of B-17 that crashed at Bradley Airport, has fleet of 30 ‘flyable’ vintage planes," 3 Oct. 2019 In Cuyahoga and six surrounding counties, the trust has conserved nearly 7,500 acres in 82 projects with a fair market value of $121 million. cleveland, "Cleveland jumps from 35th to 29th place in Trust for Public Land’s ParkScore ranking of 100 American cities," 21 May 2020 The legality of this sale hinges on whether the home was purchased for fair market value. Robert Faturechi, ProPublica, "Senator Richard Burr Sold D.C. Townhouse to Donor at a Rich Price," 14 Apr. 2020 Determining what constitutes fair market value in the world of social media influencing, versus a bribe to attend a particular college, will also be cloudy. New York Times, "Will New N.C.A.A. Rules Really Keep Agents and Boosters at Bay?," 1 May 2020

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.

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First Known Use of fair market value

1891, in the meaning defined above

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Time Traveler for fair market value

Time Traveler

The first known use of fair market value was in 1891

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Statistics for fair market value

Last Updated

22 Oct 2020

Cite this Entry

“Fair market value.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/fair%20market%20value. Accessed 24 Oct. 2020.

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More Definitions for fair market value

fair market value

noun

Legal Definition of fair market value

: a price at which buyers and sellers both having reasonable knowledge of the property and being under no compulsion are willing to do business

More from Merriam-Webster on fair market value

Thesaurus: All synonyms and antonyms for fair market value

Britannica.com: Encyclopedia article about fair market value

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