What is Market Value?
The Assessor does not create market value.
A simple definition of market value is the most probable price real estate should bring when offered for sale by a person who is willing but not obligated to sell it, and is bought by a person who is willing to purchase it but is not forced to do so. This does not mean that an individual sale will automatically establish the value of a property. The Assessor uses multiple sales of comparable properties in establishing value.