What is market value?

State law requires that your property be assessed at market value. Market value is defined as the amount a typical, well-informed purchaser would be willing to pay for a property. For a sale to be a market value (arm’s-length) sale, the seller and buyer must be unrelated and willing parties (not under pressure) to sell or buy, the property must be on the market for a reasonable length of time, the payment must be made in cash or its equivalent, and the financing must be typical for that type of property. RSA 75:1 further defines market value as: “…the property’s full and true value as the same would be appraised in payment of a just debt due from a solvent debtor.”