California Revenue and Taxation Code 110.5 – “Full value” means fair market value, full cash value, or such other …
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“Full value” means fair market value, full cash value, or such other value standard as is prescribed by the Constitution or in this code under the authorization of the Constitution.
(Amended by Stats. 1978, Ch. 292.)
Terms Used In California Revenue and Taxation Code 110.5
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.