Arizona Revised Statutes defines Full Cash Value (FCV) as being synonymous with market value. For assessment purposes, Full Cash Value approximates market value except for possible conditions unique to mass appraisal. This value is for the tax year shown at the top of the page.
A property value derived by a county assessor in Arizona, which supposedly equals market value, to which various factors are applied in order to arrive at a tax amount for that property.
The fair market value, determined by standard appraisal methods and techniques.
The amount of cash, or its equivalent, that property would bring if exposed for sale in the open market under conditions in which neither buyer nor seller can take advantage of the exigencies of the other, and with both buyer and selling having knowledge of all uses and purposes to which the property is capable of being used, together with any enforceable restrictions on that use. R&T Code Section 110.
If you owned your property before March 1, 1975, the "full cash" value will be the value as it appeared on the 1975-76 assessment roll increased by 2% per year in accordance with Proposition 13. If you acquired or constructed the property since March 1, 1975, the "full cash" value is the value at the time you took title or completed construction, plus 2% each year thereafter.
Full Cash Value means the amount of cash or its equivalent that a property would bring if sold in an open market arms length transaction. Other terms that are used to mean the same thing as Full Cash Value are "full value," "cash value," "actual value," and "fair market value." See page 25.
The most probable price which property would bring in a competitive and open market under all conditions requisite for a fair sale.