NAC361.282. “Fair market value” defined.

Latest version.

“Fair market value” means the highest price estimated in terms of money which a property will bring if exposed for sale in the open market allowing a reasonable time to find a purchaser who buys with full knowledge of all the uses to which it is adapted and for which it is capable of being used.

[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]

                    
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