What does 100% of full and fair cash value mean?

The courts have defined this phrase to mean "current market value", the price arrived at by a willing buyer and a willing seller, each with a good knowledge of the market and each acting without undue pressure or compulsion. Thus, in determining value, assessors seek to approximate what property would sell for on the open market, within an acceptable range of error.

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1. What is the current tax rate?
2. At what ratio is property assessed?
3. What does 100% of full and fair cash value mean?
4. How do I check ownership or valuation of a property?
5. What is a Map and Lot?
6. How do I change my mailing address for tax billing?
7. What is the CPA surcharge and how is it calculated?
8. Where and when do I file for overvaluation abatement?
9. When are real estate property taxes mailed and payments due?
10. Where should I mail my real estate tax payment?
11. What should I do in the event I do not receive a bill?
12. What happens if I do not pay my tax bill?
13. What do I need to do if my mortgage company pays the taxes on my property?
14. Why should I pay interest on a late payment when I never received a bill?
15. How does my name get on a tax bill?
16. Who is responsible for the taxes if a property is sold after January 1?
17. What should I do if I recently sold a parcel of property but am still receiving a bill?
18. What if I have a credit on my account?
19. How do I get a municipal lien certificate? How much does it cost and how long will it take?