Part II: Understanding and Determining Fair Market Value in Canadian Appraisals
International Society of Appraisers
MAY 13, 2025
Importantly, this definition emphasizes real transactions in the most active and appropriate market where the item is typically sold to the public, such as a gallery or auction sale, not asking prices. This means a consistently achieved market price, not an unusually high one-off sale. The Income Tax Act (Canada), s.
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