fair market value
noun
: 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
But 40 Wall’s lease contains a clause that says the rent will periodically reset to reflect the land’s fair market value, as defined by a formula that is very favorable to the ground owners, given the extraordinary increase in Manhattan land prices over the past few decades.
—
Paula Aceves, Curbed, 31 Oct. 2024
This can include debris removal and pruning or replanting vegetation to restore the property’s pre-disaster fair market value.
—Raul Elizalde, Forbes, 21 Oct. 2024
What: Facilities referendum How much: $89.1 million Tax impact: An additional 24 cents per $1,000 of fair market value.
—Alec Johnson, Journal Sentinel, 15 Oct. 2024
Not uncommon for projects in the south suburbs, the Class 8 designation would reduce the property tax assessment level for the property to 10% of fair market value, or the same assessment level for residential properties.
—Mike Nolan, Chicago Tribune, 10 Oct. 2024
See all Example Sentences for fair market value 
Examples are automatically compiled from online sources to
show current usage.
Read More
Opinions expressed in the examples do not represent those of Merriam-Webster or its editors.
Send us feedback.
Paula Aceves, Curbed, 31 Oct. 2024
This can include debris removal and pruning or replanting vegetation to restore the property’s pre-disaster fair market value.
—Raul Elizalde, Forbes, 21 Oct. 2024
What: Facilities referendum How much: $89.1 million Tax impact: An additional 24 cents per $1,000 of fair market value.
—Alec Johnson, Journal Sentinel, 15 Oct. 2024
Not uncommon for projects in the south suburbs, the Class 8 designation would reduce the property tax assessment level for the property to 10% of fair market value, or the same assessment level for residential properties.
—Mike Nolan, Chicago Tribune, 10 Oct. 2024
See all Example Sentences for fair market value
Dictionary Entries Near fair market value
Cite this Entry
“Fair market value.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/fair%20market%20value. Accessed 23 Nov. 2024.
Copy CitationLove words? Need even more definitions?
Merriam-Webster unabridged
Share