The concept of market value has permeated all levels of state and federal tax legislation. It is notoriously difficult to define in practice and its meaning varies depending on whether it is used in a legal, accounting or valuation context.

This session will shed light on:

• where market value concepts arise in state and federal tax legislation
• how to use market valuations when dealing with revenue authorities
• how to instruct valuers and how to ‘settle’ valuation reports
• some recent case law dealing with market value in a tax context.