Estimated Market Value
Estimated market value (EMV) is one of the factors used to determine your property taxes. It represents the normal sale price in a competitive open market (where a buyer and seller are not related and both are educated about the property).
Sales prices for different types of property can vary depending on market conditions and other factors. A property's market value or sales price is affected by its unique characteristics, such as location, square footage, and number of rooms. EMV is determined by counties.
EMV does not directly impact your property taxes. For more information on how your property tax is calculated, visit Understanding Property Tax.