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The Department of Finance assigns market values to all properties in New York City. Market Value is the worth of your property determined by the Department. "Market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days." Three criteria make up this definition;. Ever wondered what your property's worth? Get market leading insights and data by tracking it.

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A market value is the estimated price for which a property is likely to sell, and this amount is used for loan underwriting purposes. A more accurate definition. The Market Value is the amount that the property is worth in relation to surrounding properties of similar specs, requisite to a fair sale. Essentially it is. The market value established for your property determines your fair share of the total property tax burden, regardless of what the total tax burden is. •.

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Rather, buying under market value means that you buy a property for less than what market data suggests it should have sold for. This value is typically. The fair market value (FMV) is the value of property as determined by the marketplace (or objective purchasers) rather than as determined by a subjective. The $7,, market value is a good deal if the property sells at $ million. But it is a bad deal if the sale price is $8 million.