Respuesta :
Yes, it may become necessary to get an assessor to help correct the value, if a property appears to have a full cash value the base value for the current year.
What is Full Cash Value?
- For property tax purposes, full cash value refers to the value established in accordance with statutory requirements.
- Full cash value is equivalent with market value, which refers to the estimate of worth that is generated annually by utilizing conventional appraisal methods and processes, if no statutory method is specified.
- Full cash value, commonly referred to as market value or "fair market value," is the amount of money or its equivalent that a piece of property would fetch if it were put up for public auction. Regardless of the technique used to calculate value for property tax purposes, full cash value must be higher than market value.
- The whole cash value is determined by state law and is solely used for tax assessment.
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Yes, it may become necessary to get an assessor to help correct the value, if a property appears to have a full cash value the base value for the current year.
What is Full Cash Value?
For property tax purposes, full cash value refers to the value established in accordance with statutory requirements. Full cash value is equivalent with market value, which refers to the estimate of worth that is generated annually by utilizing conventional appraisal methods and processes, if no statutory method is specified. Full cash value, commonly referred to as market value or "fair market value," is the amount of money or its equivalent that a piece of property would fetch if it were put up for public auction. Regardless of the technique used to calculate value for property tax purposes, full cash value must be higher than market value. The whole cash value is determined by state law and is solely used for tax assessment.
To know more full cash value visit:
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