What is fair market value?

First, please understand that the appraiser does not "set" value; he simply researches the values being set by buyers and sellers in the local market. He then applies his knowledge of the local real estate market and his experience, together with proven methods and procedures for analyzing comparable properties and considering the many factors affecting value. Your property should appraise at the price of comparable properties on the market, plus or minus adjustments for differing factors.

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1. What is the purpose of a revaluation program?
2. Why equalization?
3. How is my property value determined?
4. What is fair market value?
5. What will happen to tax bills?
6. What is the appeal process?