What is fair market value?
Fair market value is the price that a willing buyer and a willing seller can agree upon when neither party is under any undue pressure to complete the sale. The amount a well-informed buyer is willing to pay for a property. Qualified sales are used to determine fair market value. To represent fair market value, a sale must be an arm’s length transaction, i.e., it must be a sale in which there is no relationship between the buyer and the seller that may influence the price, such as a transaction between family members. A listing of recent sales is available on the counter at the Assessor’s office. Information may also be obtained through Banker and Tradesman’s newspaper or the Essex Registry of Deeds.

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1. When do I get my tax bills?
2. How can I apply for an abatement on my tax bill (real estate, personal property, motor vehicle excise, boat excise)?
3. How often does the value on property change?
4. How does the Assessor determine the value of my property?
5. What is fair market value?