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> fairness -- the law requires that property be valued at market value, and so that's the policy that should be followed True but the law can’t bend physics on
by doctorpangloss 1y ago
> fairness -- the law requires that property be valued at market value, and so that's the policy that should be followed
True but the law can’t bend physics on this: what is fair market value? One interpretation is, whenever FMV appears in policy, something is broken.
- bandofthehawk 1y agoOne way to measure fair market value is too look at similar recently sold properties, which they did in the article.
- doctorpangloss 1y agoHa ha, define similar. Real estate is the quintessential non fungible market. I guess my point is, look deeper than the surface at any aspect of this problem, and discover political decisions pretending to be objective ones.
- philipallstar 1y agoThat is a fairly weak proxy. People buy and sell for different reasons; they can achieve pretty different prices accordingly.