What is the difference between market value and selling price?
The actual selling price for a property is a unique number that represents the distinctive negotiations of buyer and seller. The selling price may or may not be equitable. The Property Appraiser is responsible for arriving at a market value on January 1 of each year. In doing so we must consider the selling prices of comparable properties. The Property Appraiser’s market value conclusions must be equitable and based on typical market transactions.
