Section Rev 601.31 - Market value"Market value" means the value of a property that:
(a) Is the most probable price, not the highest, lowest, or average price;(b) Is expressed in terms of money;(c) Implies a reasonable time for exposure to the market;(d) Implies that both buyer and seller are informed of the uses to which the property might be put;(e) Assumes an arm's length transaction in the open market;(f) Assumes a willing buyer and a willing seller, with no advantage being taken by either buyer or seller; and(g) Recognizes both the present use and the potential use of the property. The term includes "full and true value."N.H. Admin. Code § Rev 601.31
Amended by Volume XXXIV Number 19, Filed May 8, 2014, Proposed by #10581, Effective 5/1/2014, Expires5/1/2024.Amended by Number 15, Filed April 11, 2024, Proposed by #13916, Effective 3/28/2024, Expires3/28/2034 (formerly Rev 601.32) (see Revision Note #2 at chapter heading for Rev 600).