Property Valuation
In Missouri, when a property is appraised for estate tax purposes, the standard of value is typically:
AAssessed value
BFair market value (FMV) as defined by IRS regulations✓ Correct
CReplacement cost
DInsurance value
Explanation
For federal estate tax purposes, property is valued at fair market value—the price at which property would change hands between a willing buyer and willing seller, as defined by IRS regulations.
Related Missouri Property Valuation Questions
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