Revisiting the Meaning of Fair Market Value

Business Valuation UpdateVol. 23 No. 4
April 2017
Mark O. Dietrich, CPA


We all know the classic definitions of fair market value from Revenue Ruling 59-60 and the International Glossary, which I’ll repeat here for sake of clarity (see sidebar). At its core, fair market value (FMV) asks the appraiser to answer the question of ...