Tax Glossary Definition (English)
Estimated Fair Market Value Defined
The following is in context to Tax, because it's common for a single word to have multiple meanings you will find additional research links near the bottom of the page.
"A value calculated by dividing the property's assessed value by the municipality's average assessment ratio. This value may not be the actual market value of a property and is not used in the calculation of taxes. Agricultural property value is based on use, not market, thus the estimated fair market value is not calculated for parcels in the agricultural class."
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Additional Estimated Fair Market Value Definition Starting Points
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Expert Dictionary: Estimated Fair Market Value
Dictionary: Estimated Fair Market Value
