Most often, you’ll have a market value and an assessed value, the latter of which is quite a bit lower. But don’t worry—that’s usually a good thing. Here’s a closer look at market value vs.

A home’s fair market value is, essentially, the price that a buyer would pay a seller for it on the open market. Many factors go into determining fair market value, including location ...

which defines fair value as "the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants." To apply this definition ...